- On February 22, 2021, a Memorandum of Understanding was signed between the Ministry of Energy of the Republic of Azerbaijan and bp on cooperation in assessing the potential and conditions required for large-scale de-carbonized and integrated energy and transport systems, including renewable energy projects in the regions and cities of Azerbaijan.
- The Memorandum has been signed in the context of Azerbaijan's economic diversification, creation of a competitive energy market, clean environment and “green growth” agenda and bp's announcement in 2020 of its “net zero” ambition.
- According to the Memorandum, a Steering Committee and a Working Group will be established and a Master Plan will be developed for decarbonization of relevant regions or cities of Azerbaijan. The Master Plan will cover the development of trends for clean energy projects, low-carbon transport, green buildings, waste management, clean industry, natural climate solutions, integrated partnerships, as well as the development of integrated and decarbonized energy and mobility systems.
