Tekfen Construction Signs Strategic Cooperation Agreement in Azerbaijan

May 01, 2020

Levent Kafkaslı, the President Tekfen Construction, met with Samir Veliyev, Azerbaijan's Deputy Minister of Energy, at the 25th Caspian Oil & Gas Exhibition and signed a letter of intent with the aim of establishing a strategic cooperation regarding the development of renewable energy projects.

Tekfen Construction has carried out many projects in the fields of oil and gas-based energy in Azerbaijan, where it has been operating since 1996, including the pipelines, oil and natural gas terminals, and marine platforms within the framework of the BTC Crude Oil Pipeline and Phase 1 and Phase 2 of the Shah Deniz gas field projects. Today, the company continues to serve the country in the development of Alternative and Renewable Energy Sources in accordance with the 2025 Strategic Road Map of Azerbaijan.

One of Tekfen Construction’s solid steps in this direction is to take a more active role in renewable energy, in line with the Group’s strategic priority given to increasing its portfolio diversity. The agreement signed with the Ministry of Energy of Azerbaijan on May 29, 2018 is also of great importance in this respect.

Present during the signing, Tekfen Construction President Levent Kafkaslı said: "We have been making significant contributions to the economic development of Azerbaijan, where we have been doing business since 1996. With this agreement, we plan to expand our cooperation by including renewable energy projects. Azerbaijan’s aim to invest in renewable energy resources is a very important opportunity for Tekfen Construction, in order to identify potential investment opportunities and collaborate in execution of the feasibility studies".