BAKU (AZERBAIGIAN) (ITALPRESS) – Italy is the country “number one” within the European space to operate investments, according to the vision of the State Oil Fund of the Republic of Azerbaijan (Sofaz). This was stated by Deputy Ceo of Sofaz, Rovshan Javadov, in a meeting with Italian journalists in Baku at the headquarters of the financial institution. “Italy is a top destination for us. Some investments have already been made last year, and we naturally look for more opportunities,” explained, confirming that Sofaz’s exposure in Italy is approximately $3 billion, corresponding to approximately 4% of the total fund portfolio. According to Sofaz’s deputy CEO, “Italy is the number one among European countries” and the fourth in the list “Country Exposures”. In addition to our country, States like “Spain, Germany and liquid markets in general are also focusing on the sovereign fund.” “There is a greater focus in Western Europe than in Eastern Europe, on a matter of market size,” he concluded. Sofaz was born in 1999 to “transform in development”, as explained by the Fund, the resources deriving from the hydrocarbon sector. To date, Sofaz manages investments for $73.5 billion in around 60 countries, and the three pillars on which its mission is based are a development of resources with foreign capital and technologies; a development of “multiple volumes” for export and the definition of a “frame” within which to operate for a “prudent management” of revenue. Italy, which is the largest trading partner for Azerbaijan, has already been the subject of significant investments by Sofaz over the past few years. Sofaz invested in Italo, with an operation, according to the Fund, which offers long-term stable returns while ensuring a strategic exposure to the Italian critical infrastructure sector. Another investment is in Enfinity Global Renewable Energy Portfolio, where Sofaz acquired 49% shareholding in a portfolio of photovoltaic plants in Italy for a total of 402 MW (303 MW in Lazio and 99 MW in Emilia-Romagna). A third investment is that in FSI Private Equity Funds and a fourth is finally in Azzurra Capital Investments.
– Photo Sofaz –
(ITALPRESS).
