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Azerbaijan announces number of RES agreements signed with foreign companies

Oil&Gas Materials 13 July 2020 17:45
Azerbaijan announces number of RES agreements signed with foreign companies

BAKU, Azerbaijan, July 13

By Nargiz Ismayilova - Trend:

The number of companies which in the first half of 2020 signed agreements on cooperation with Azerbaijan’s Energy Ministry in the field of using renewable energy sources (RES) reached 11, Trend reports referring to the ministry.

Memorandums of understanding were signed with many international companies in order to strengthen cooperation in the field of using renewable energy sources and to promote investment in this area in the future.

“These are companies such as Tekfen Construction of Turkey, Avelar Solar of the Russian Federation, Masdar of the United Arab Emirates, Equinor A.S. of Norway, Total Eren of France, BP of Great Britain, ACWA Power of Saudi Arabia, Mitsui&CO of Japan, Lucia Holding of France, Ansaldo Energia of Italy and Al-Maktub of the United Arab Emirates,” said the ministry.

In the first half of this year, the draft law "On the Use of Renewable Energy Resources in the Production of Electricity" developed in accordance with the decree of Azerbaijani president “On accelerating reforms in energy sector of the Republic of Azerbaijan” was submitted to the Cabinet of Ministers of Azerbaijan. At the same time, drafts of other normative legal acts have been developed.

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