Day: October 20, 2026

The value of the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) as of October 1 of this year stood at $74.003 billion, which is $3.841 billion, or 5.5%, more than on October 1 of last year, Report informs referring to the Fund.

According to the data, currently 70.9% of SOFAZ’s investments ($52.467 billion) are denominated in US dollars – up 3.1 percentage points compared to a year earlier.

The share of the euro in the investment portfolio decreased by 3.2 percentage points to 16.8% ($10.993 billion). The share of the British pound sterling contracted by 0.1 p.p. to 4.8% ($2.555 billion), while the share of the Chinese yuan remained unchanged at 2.3% ($11.615 billion). The share of the Japanese yen grew by 0.1 p.p. to 1.5% ($169.479 million), and the share of other foreign currencies rose by 0.1 p.p. to 3.7% ($2.744 billion in dollar equivalent).

As of October 1, SOFAZ’s total assets amounted to $74.004 billion, up 5.5% compared to a year earlier.

Azerbaijan”s investment in renewable energy projects and power grid development is expected to total around $2.6 billion by 2027, including $600 million to strengthen the grid infrastructure, Energy Minister Parviz Shahbazov said in an article published in the Azerbaijan newspaper.

Report quotes him as saying the development of green energy involves not only building solar and wind power plants but also integrating the electricity they generate into the country’s power system. To this end, transmission networks are being strengthened, energy storage systems are being established, and modern control technologies are being introduced.

Shahbazov said construction of the 500/330/10 kV Navoi substation is ongoing. In Jabrayil, the 330 kV Shafag substation with a capacity of 560 MVA and the 220/110/10 kV New Sangachal substation with a capacity of 750 MVA have been commissioned. The latter is designed to transmit electricity generated by the Shafag hydropower plant to the Sangachal terminal through the Virtual Energy Transmission Mechanism.

In addition, construction of the 33/110 kV Ufug-Shams substation with a capacity of 200 MVA has been completed in Jabrayil. To integrate the electricity into the power system, a 12-kilometre, double-circuit 110 kV overhead transmission line connecting the Jabrayil substation to the Nobel hydropower plant has been laid.