President Ilham Aliyev: Any company interested in investing in Azerbaijan can submit its proposals and build new stations, invest and work with us

President Ilham Aliyev: Any company interested in investing in Azerbaijan can submit its proposals and build new stations, invest and work with us

BAKU, Azerbaijan, April 22

Trend:

Any company interested in investing in Azerbaijan can submit its proposals and build new stations, invest and work with us, said Azerbaijan’s President Ilham Aliyev during the opening of the newly-reconstructed main control, scientific, training and laboratory complex of AzerEnergy Open Joint Stock Company in Baku, Trend reports.

“I want to say once again that all this positive dynamics, as well as stability, have led foreign companies to decide to invest in Azerbaijan. In January this year, a preliminary agreement was reached and two major companies with extensive experience in the field of renewable energy signed the first agreements with Azerbaijan. Based on these agreements, 2 stations with a capacity of 440 megawatts will be built in our country only at the expense of foreign investors – one wind and one solar. I must also note that there were seven companies interested in implementing these projects, i.e. to make investment. I do not want to name them, but there were the largest energy companies in the world among them,” said President Ilham Aliyev.

The head of state said the competition showed that two companies offered the best conditions and they should already start work.

“The coronavirus did get in the way, a certain delay is possible, but, in principle, preliminary agreements have been reached. This, in turn, will open the way for other companies. Our renewable energy potential is fairly large, we have a lot of sun and wind. Therefore, I am sure that both local and foreign companies will show interest in this area. I also want to note in connection with the activities of foreign companies that we kept this sector in state monopoly for some time, and I explained the reason for this. But at present, any company interested in investing in Azerbaijan can submit its proposals and build new stations, invest and work with us. I am also aware that some companies are interested in the stations already in operation,” said President Ilham Aliyev.

The head of state pointed out that however, it is necessary to analyze whether we need that or not because all operating stations are in working condition and large state investments have been made.

“If a foreign company can operate these stations better than us, then it should submit its proposals, show what its advantages are, and if we see that the stations will operate more effectively in private hands, then let them work. But I want to draw the attention of foreign investors primarily to new stations. Let them come and invest. After all, anyone would want to work when everything is up and running. So please come, invest, produce, transfer to a common system and expand your business. This is my recommendation to foreign and local companies. I am sure that from now on, the partnership between the state and private sectors will be possible in this area as well. I sincerely congratulate you again and wish you and all the energy workers of Azerbaijan continued success. Thank you!” said President Ilham Aliyev.

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