Azerbaijani Ministry of Energy talks co-op with foreign companies

Oil&Gas Materials 26 February 2020 13:42 (UTC +04:00)
Azerbaijani Ministry of Energy talks co-op with foreign companies

BAKU, Azerbaijan, Feb. 26

By Nargiz Ismayilova – Trend:

Azerbaijan has established close cooperation with foreign companies, as well as began to negotiate on the implementation of certain projects, Director of the Regulation of Energy Efficiency and Ecology Department of the Azerbaijani Ministry of Energy Alasgar Hasanov told Trend.

"As a result of negotiations and a deliberate choice from the proposals of the companies on January 9, 2020, the Cabinet of Ministers of Azerbaijan signed agreements between the Ministry of Energy and the companies of ACWA Power company of Saudi Arabia and Masdar company of the UAE with the aim of implementing pilot projects for the construction of power plants based on wind and solar energy," Hasanov added.

Director of the ministry's ecology department noted that the implementing agreement signed with ACWA Power, includes the construction of a 240 megawatt wind farm and a 200 megawatt solar plant.

"Within the framework of these two projects, it is planned to generate about 1.4 billion kilowatt-hours of electricity during the year. The volume of investments in these projects is estimated at $400 million," the director said.

"Legal and technical activities are continuing in Azerbaijan within the framework of the Commission established to coordinate and implement pilot projects, associated with the construction of wind and solar power plants," Hasanov said.

Presently, Azerbaijan is taking steps to develop alternative energy. For this purpose, the negotiations are underway with foreign companies and investors, including the companies from China, the UAE, the US and the EU.

The reason for the search for alternative energy sources is the need to receive it from the energy of renewable or practically inexhaustible natural resources and phenomena. Its other advantage is environmental friendliness and profitability.


Follow the author on Twitter:@IsmailovaNargis