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Azerbaijan and UAE discuss investment projects in renewable energy sphere

Oil&Gas Materials 11 May 2022 13:08
Azerbaijan and UAE discuss investment projects in renewable energy sphere
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, May 11. Minister of Energy of Azerbaijan Parviz Shahbazov met with UAE Minister of Energy Suhail Mohamed Al Mazrouei within the framework of his visit to the UAE, Trend reports with reference to Azerbaijan’s Ministry of Energy.

According to the ministry, the sides discussed investment projects that are planned to be implemented in Azerbaijan’s renewable energy sphere, the possibility of cooperation in the production and export of electricity, natural gas and in energy efficiency sphere.

"The sides regarded construction of Garadagh Solar Power Plant in Azerbaijan as a contribution to strong relations between two countries and the beginning of “green energy” cooperation," ministry said.

The information of ministry noted that side also discussed current situation in the world energy markets and issues arising from cooperation in OPEC+ format, during the meeting.

According to State Customs Committee (SCC) of Azerbaijan, trade with the UAE exceeded $12.4 million from January through March 2022, while this figure in the same period last year amounted to $5 million (an increase of 50.5 percent over the year).

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