Italy Commends Interests Of Azerbaijan’s SOFAZ In Seizing Investment Opportunities In Its Market Deputy FM
BAKU, Azerbaijan, January 13. Italy commends
interests of the State Oil Fund of Azerbaijan (SOFAZ) in seizing
investment opportunities in its market, Edmondo Cirielli said in an
exclusive interview with Trend on the occasion of the Sixth Session of the
Italy-Azerbaijan Intergovernmental Commission in Baku.
He pointed out that as the oil and gas industry remains the
backbone of foreign investments to Azerbaijan, the
Intergovernmental Commission will also highlight other relevant
areas.
“Important investment and business opportunities could stem from
connectivity projects, in particular in the framework of the Middle
Corridor transport route connecting Europe and Asia, as well as in
developing new transport and infrastructure facilities in
Azerbaijan. Equally interesting are the opportunities in the domain
of agricultural modernization, ICT development programs, healthcare
and pharmaceuticals,” said the deputy FM.
Cirielli went on to add that at the same time, the Italian
government is also actively attracting foreign investment creating
a favorable environment for foreign investors.
“Italy also presents important investment opportunities in
sensitive sectors such as energy, networks, telecommunications and
transport. As the second largest manufacturing economy in Europe,
Italy is one of the main gateways to a market of 500 million
consumers in the European Union. In this regard, we commend SOFAZ
interests in seizing investment opportunities in Italy and we look
with favor to further investments in our country from Azerbaijani
companies and investment funds,” he explained.
On July 18, 2025 the State Oil Fund of the Republic of
Azerbaijan (SOFAZ) and Enfinity Global signed an agreement in Rome,
under which SOFAZ has acquired a 49% stake in Enfinity Global’s
solar power portfolio. It has a total installed capacity of 402 MW.
Enfinity Global retained the remaining 51% and will continue to
manage the assets over the long term.
The investment includes 14 solar power plants – both operational
and under construction – located in the Lazio and Emilia-Romagna
regions. All electricity generated will be sold under long-term
power purchase agreements (PPAs), providing stable pricing for
consumers and predictable returns for investors.
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