BAKU, Azerbaijan, Aug. 19
By Sadraddin Aghjayev - Trend:
A stable economy, favorable investment climate and significant successes of Azerbaijan in business development have attracted the world's largest investors to the country, Igbal Guliyev, deputy director of the International Institute for Energy Policy and Diplomacy of Moscow State Institute of International Relations (MGIMO), candidate of economic sciences, told Trend on Aug.19.
According to Guliyev, who is also an expert of the Sustainable Development Center under MGIMO, the investors are ready to participate in the implementation of promising megaprojects in the field of renewable energy sources (RES).
He said that as to date, 12 large companies are involved in the energy sector of Azerbaijan. These are BP (UK), Masdar (UAE), ACWA Power (Saudi Arabia), Total Eren (France), Equinor (Norway), Quadran International (France), Tekfen Insaat (Turkey) , Al-Matub (UAE), Mitsui & Co (Japan), Lucia Holding (France), Ansalgo Energia (Italy) and Avelar Solar Technology (Russia).
"All these energy companies have signed memorandums of understanding and cooperation documents with Azerbaijan,” the expert noted. “At the same time, the country’s Energy Ministry actively interacts with the companies both within the activities of working groups, meetings and information exchange, and in the field of improving the national regulatory framework on renewable energy sources.”
Besides, according to him, Russian energy companies are successfully operating in Azerbaijan and cooperation in the industrial sphere is deepening.
"Thus, the overall assessment shows the focus of the Azerbaijani economy on modernization, participation in the global transformation of the energy sector, strengthening its position as a key player in the international arena, active cooperation between countries, maintaining the course of sustainable development, introducing science-intensive and highly intelligent technologies, and ensuring a high standard of living for the population. ", concluded Guliyev.
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