BAKU, Azerbaijan, May 10. Companies from the EU are very interested in implementing projects in Azerbaijan’s renewable energy sector, EU Ambassador to Azerbaijan Peter Michalko told Trend.
“Renewable energy is a very perspective area of cooperation for several reasons. This is of course a priority for the EU in support for “green” transition, and also an important objective in our cooperation with Azerbaijan,” Michalko said.
In regard with participation in the implementation of particular projects in the sector, the ambassador said that the auctions system will be very helpful for the development of renewable energy and bring more investments from abroad for the benefit of Azerbaijan.
According to the ambassador, recently it was announced that the EU can mobilize up to 2 billion euros under this investment plan for Azerbaijan. This also includes the support for renewable energy sector.
He also noted that the support that the EU is offering for Azerbaijani governmental institutions includes preparing legislative framework for “green” energy transition.
“We have supported several projects in this regard that strengthened the authorities and their capacity in the preparation for implementation of the laws that are related to energy efficiency. It is important for this prepared framework to bring adequate benefits,” Michalko added.
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