BP to submit proposals on alternative energy to Azerbaijani gov’t

Baku, Azerbaijan, July 12

By Sara Israfilbayova - Trend:

BP Azerbaijan will submit commercial proposals related to the production of renewable energy to the Azerbaijani government on July 12, BP Azerbaijan Vice President Bakhtiyar Aslanbayli told Trend.

Aslanbayli noted that BP is interested in doing business in the field of renewable energy sources in Azerbaijan. He added that solar energy is of the greatest interest, adding that there is not enough data in the country for now to analyze wind power.

The British giant already has a big business in this segment of alternative energy in the US (the company Lightsource BP) and in the UK.

New proposals of the company in Azerbaijan also concern a project in the field of solar energy.

Aslanbayli stressed that in order to conduct business in this area, Azerbaijan needs to create favorable commercial conditions in the market.

In December 2018, BP and Azerbaijan's Energy Ministry signed a memorandum of understanding (MoU) to jointly explore potential opportunities for development of renewable energy in Azerbaijan.

The memorandum envisages the development of a legal framework for the functioning of this sector.

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Follow the author on Twitter: @IsrafilbekovaS

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