BAKU, Azerbaijan, Dec.2
By Leman Zeynalova – Trend:
In the coming months, about $500 million worth of foreign investments is expected to be directed into the renewable energy sector of Azerbaijan, said Azerbaijan’s energy minister Parviz Shahbazov during the CAREC Energy Investment Forum, Trend reports.
He pointed out that as an active member of the CAREC program Azerbaijan has taken significant strategic steps this year and has identified priorities for socio-economic development until 2030.
“These priorities approved by the presidential decree provide us with a clear vision for the next decade, including in the energy sector. We envisage our future as a green growth country with clean environment. To this end, we are not only voluntarily enhancing our ambition to combat change, but also reforming the energy sector, improving the legislative and regulatory framework creating a more conducive environment for the wide use of renewables and green technologies and successfully attracting foreign investments in the field of green energy. In the coming months, about $500 million worth of foreign investments is expected to be directed into the renewable energy sector through wind and solar energy projects with a total capacity of 470 megawatts,” said the minister.
Shahbazov expressed hope that in the near future Azerbaijan will succeed in brining additional inflow of investments into the same sector in Azerbaijan.
“Ensuring energy efficiency is one of the pillars of our energy strategy. The law on the efficient use of energy resources and energy efficiency adopted this year will have a tangible impact in various sectors of the economy,” he added.
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