Baku, Azerbaijan, April 20
Trend:
India, which in March 2018 hosted the founding summit of the International Solar Alliance (ISA), invited Azerbaijan, which, although not located between the two tropics, but has a large amount of sunlight, to join the Alliance as a partner country.
This was stated at the meeting of Indian Ambassador to Azerbaijan Sanjay Ran with Energy Minister Parviz Shahbazov. The meeting was held to discuss issues of cooperation in the fields of energy and renewable energy.
The Ambassador noted that India was satisfied with the participation of the Indian oil company ONGC Videsh Ltd. in production sharing for the block of "Azeri-Chirag-Guneshli", and that Indian companies are interested in participation in upstream and downstream projects in the energy and petrochemical industries.
Shahbazov invited Indian companies to participate in projects for renewable energy, in particular to invest in production of wind and solar energy in Azerbaijan, and added that the Azerbaijani government had prepared a new procedure to facilitate the participation of local and foreign investors in this field.
Azerbaijan and India are also cooperating in the development of the North-South international transport corridor, which in subsequent years will create even more opportunities for trade and investment between the two countries.
The idea of creating an International Solar Alliance was presented in the end of 2015 at the Paris climate conference, which ended with a new global agreement to combat global warming. The Alliance united more than 120 countries located along the equator. The purpose of the Union is the joint development of solar energy, combining financial and technological efforts in this area.