The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has acquired a 49% stake in a portfolio of solar power plants in Italy, marking a shift in Azerbaijan‑Italy energy ties from traditional pipelines to long‑term renewable partnerships.
For decades, energy cooperation between Azerbaijan and Italy was defined by hydrocarbons and pipelines. This new deal, observers say, signals a new chapter – from molecules to electrons, with Italy securing alternative sources of energy sold under long‑term power purchase agreements, a model that ensures stable tariffs for consumers and predictable, inflation‑linked income streams for investors.
