Azerbaijan’s investment climate is very positive - President Aliyev

Politics Materials 12 February 2021 12:33 (UTC +04:00)
Azerbaijan’s investment climate is very positive - President Aliyev

BAKU, Azerbaijan, Feb. 12


One more point I would like to bring to your attention, is our plans with respect to renewable sources of energy, President of the Republic of Azerbaijan Ilham Aliyev said making a speech at the 7th Ministerial Meeting of the Southern Gas Corridor Advisory Council held in the format of a video conference, Trend reports.

“We are now in the active phase of cooperation with leading energy companies of the world. With two of them we already signed necessary documents for construction of two, one solar and one wind power stations of the total capacity of 440 megawatts. These are projects which will be implemented by foreign investors,” the head of state said.

“Azerbaijan’s investment climate is very positive. World Bank ranks Azerbaijan among leading 30 countries with respect to the doing business opportunities. The attraction of investments in renewable energy is in line with our strategy of renewable sources of energy and in line with our potential,” Azerbaijani president said.

“At the same time, after the liberation of the occupied territories we know that there is a great discovery on the liberated territories for solar and wind energy production, as well as hydro-electric generation. Therefore, I would like to invite companies from your countries to be our partners. I already officially announced the liberated territories as the territories which will be supplied with green energy. We are already working on the master plan using a great potential of water, sun and wind,” President Aliyev said.

“We will, I am sure, implement this project, as well as another project which is called smart city development. For all liberated territories this project is now already in the pipeline. Taking into account devastation and destruction which Armenia committed on the occupied territories which we liberated and everything is destroyed, of course, it’s a big challenge. But we are committed to do it, to do it in a short period of time and to return our former refuges to the native lands and demonstrate the capacity of the country, its commitment and its vision for the future,” the head of state said.