Nobel Energy Expands it's Role in Azerbaijan’s Renewable Energy Push

Nobel Energy, a key subsidiary of NEQSOL Holding, is advancing Azerbaijan’s shift to renewable energy with two major solar projects in Jabrayil and Nakhchivan. Carried out in collaboration with the Ministry of Energy, these initiatives underscore the company’s growing influence in facilitating private-sector solutions for a more diversified and sustainable national energy mix.

The Jabrayil project, named the ‘Ufug’ (Horizon) Solar Plant, is a 50-megawatt (MW) facility being developed by Enerso Jabrayil, Nobel Energy’s green energy arm. Expected to produce roughly 110 million kilowatt-hours of electricity per year, the plant will support both national grid demand and local economic revival efforts. In addition to generating clean power, the initiative will result in over 300 construction jobs and at least 50 long-term employment opportunities.

In Nakhchivan, Nobel Energy recently signed an Implementation Agreement for a 30 MW solar power station. This project builds on a previously signed Memorandum of Understanding (MoU) for a larger 400 MW development in the region, where 370 MW will be allocated for export. The solar plant in this autonomous region aims to bolster local energy independence and reduce reliance on imported electricity.

“These projects in Jabrayil and Nakhchivan reflect our dedication to Azerbaijan’s clean energy future. In close partnership with the Ministry of Energy, we’re delivering renewable power while also fostering employment and economic growth across the regions,” said Vugar Samadli, CEO of Nobel Energy.

Both developments follow the Build-Own-Operate (BOO) framework, with Nobel Energy handling the financing, construction, and ongoing operations. This model ensures long-term oversight and reflects a broader trend in the region where private enterprises take a leading role in energy development.

“We’re investing for the long haul – not just in energy, but in communities. These projects are integral to enhancing energy security, creating jobs, and aligning with Azerbaijan’s broader development strategy,” said Yusif Jabbarov, Chairman of NEQSOL Holding.

With its cross-sector experience spanning energy, telecommunications, and infrastructure, Nobel Energy is uniquely positioned to execute complex projects across diverse geographies. The company is committed to applying robust Environmental, Social, and Governance (ESG) standards, including community engagement, environmental protections, and local hiring.

The regions of Jabrayil and Nakhchivan play a strategic role in Azerbaijan’s renewable roadmap. In Jabrayil, the project supports the government’s reconstruction priorities, while in Nakhchivan, it enhances energy self-sufficiency. The Ministry of Energy estimates Azerbaijan’s renewable energy capacity at 27 GW, including 23 GW of solar and 3 GW of wind. Jabrayil and neighboring districts like Fuzuli and Zangilan offer prime solar conditions, with radiation levels between 1,600–1,700 kWh/m²/year and an estimated total solar potential of 7,200 MW.

“Azerbaijan’s renewable resources are extraordinary. The key is turning potential into reality—and that’s where we come in, one project at a time,” Jabbarov added.

Construction is expected to commence in late 2025, following the completion of environmental reviews, feasibility studies, and local consultations. Both solar plants are projected to be operational by 2026. Nobel Energy is also considering the integration of battery storage systems and smart grid technologies to optimize power delivery and improve grid responsiveness.

Through these long-term solar investments, Nobel Energy is reaffirming its commitment to helping Azerbaijan build a resilient, sustainable energy system—while creating tangible benefits for communities across the country.

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