2022 was a year of turbulence for business, especially for companies in Eastern European countries. But even in such a difficult situation, some companies manage not only to maintain, but also to develop business – to enter new markets and develop new areas. CEOWORLD Magazine talked with NEQSOL Holding CEO Yusif Jabbarov about how to stand fast, maintain stability, and develop business in unprecedented conditions for modern Europe. Yusif Jabbarov is a top manager with more than 20 years of experience in a number of sectors (financial; oil, gas, and energy; telecommunications; construction materials production; and hi-tech) in different regions across the globe. Thanks to Yusif Jabbarov’s experience, NEQSOL Holding managed to build its work in nine countries – the UK, the USA, Turkey, Azerbaijan, Ukraine, the Netherlands, Georgia, Kazakhstan, and the UAE. Such diversification, even during global economic instability, allowed achieving positive financial indicators.
In a given extensive interview, Jabbarov also talked about the renewable energy, stating that NEQSOL Holding plans to develop this area and within the next 3-5 years to attract around $500 million to the green energy sector.
“If earlier we were focused on investing in developing oil and gas fields and oil and gas services, now we are also looking at renewable energy sources. Our company Nobel Energy recently completed a strategy review, completed a rebranding, and declared a course to develop renewable energy sources. In this area, we can act both as investors and as contractors, for example, to provide services for constructing power plants,” he says.
Moreover, as the company’s CEO revealed, the Holding already has a number of “green” projects in their plans. “For example, in Azerbaijan, we plan to start constructing a solar power station that will supply electricity to our NORM cement plant and our telecom operator’s data center. This station will help the plant to reduce natural gas consumption by 10% per year and reduce CO2 emissions.”
According to Jabbarov, in the next 3-5 years, the company plans to attract their own and partner funds totaling about $500 million to the green energy sector.
“And although the marginality in this business is still quite low compared to traditional energy, we are investing in developing this area right now as a strategic investor. Now our main task is to maintain some kind of energy diversification within the group.
The future will be renewable energy, in one way or another, but transitioning from traditional energy sources to alternative ones will take some time, so the traditional energy business is still in our focus,” says Yusif Jabbarov, CEO at NEQSOL Holding.
