BAKU, Azerbaijan, February 3. Only with three major energy companies, we have agreed and signed MoU and agreements to produce up to 25 gigawatts of renewable energy offshore and onshore solar and wind, President of Azerbaijan Ilham Aliyev said at the 9th Southern Gas Corridor Advisory Council Ministerial Meeting and the 1st Ministerial Meeting of the first Green Energy Advisory Council in Baku, Trend reports.
"Today, in Azerbaijan, together with our investors, Masdar and ACWA power, we jointly implement two investment projects of solar and wind power generation of a total of 470 megawatts. One project, which is already in the pipeline with bp, which soon will start to be implemented in the liberated territories of Jabrayil district of 240 megawatts that will be total of 710. And if everything goes according to our plans, within one year, one year and a half, we will have this capacity, and that will save hundreds of millions of cubic meters of natural gas for export.
With respect to the plans for renewables, only with apart from what I already said, only with three major energy companies, we have agreed and signed MoU and agreements to produce up to 25 gigawatts of renewable energy offshore and onshore solar and wind. Masdar 10, Fortescue 12 and ACWA power today will be a ceremony 2.5 additional to what has already been signed and being implemented. So, this is really a huge potential.
Therefore, when we are talking about Black Sea cable we need to plan it in stages, and also to coordinate it with demand in Europe. And, of course, to see a broad picture of our potential cooperation in European continent. Because I'm sure that Romania and Hungary will not be as a final destination for green energy," President Ilham Aliyev said.