On July 18, 2025, Azerbaijan’s State Oil Fund (SOFAZ) announced its investment in the European renewable energy sector by acquiring a 49% stake in a portfolio of solar assets in Italy. This portfolio, operated by U.S.-based Enfinity Global Inc., has a total capacity of 402 megawatts.
This investment marks a strategic move for SOFAZ as it seeks to diversify its investment portfolio beyond traditional oil and gas sectors. The solar assets include multiple projects that utilize advanced solar technology to harness energy effectively, contributing to Italy’s growing renewable energy landscape.
As part of the deal, SOFAZ gains access to a rapidly expanding market, where solar energy plays an increasingly vital role in meeting energy demands and reducing carbon emissions. The Italian renewable energy sector has seen significant growth, driven by government incentives and a push towards sustainable energy sources.
This acquisition reflects a broader trend among sovereign wealth funds investing in renewable energy projects globally, as they recognize the long-term growth potential and stability offered by green energy investments. SOFAZ’s entry into the Italian solar market aligns with Azerbaijan’s commitment to exploring alternative energy investments while supporting sustainable development initiatives.
With this investment, SOFAZ aims to contribute to the global transition towards renewable energy and enhance its portfolio’s resilience against market volatility in fossil fuels. The specific projects within the 402-megawatt portfolio are expected to generate substantial energy outputs, further solidifying Azerbaijan’s presence in the renewable energy sector in Europe.
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