BAKU, Azerbaijan, June 1. The Ministry of Energy of Azerbaijan and the "China Gezhouba Group Overseas Investment" company have signed a memorandum of understanding, Trend reports.
The document was signed by Deputy Minister of Energy of Azerbaijan Elnur Soltanov and Senior Vice President of China Gezhouba Group Overseas Investment Lin Xiao.
Two gigawatts of renewable electricity will be produced in Azerbaijan within the framework of this agreement. Cooperation is also planned to assess the potential for investments in industrial solar energy, land-based marine and wind energy, as well as projects for the production of green hydrogen in Azerbaijan.
The document also provides for a study by the company of the possibilities of connecting to the project network, an environmental impact assessment, as well as geological and topographic studies.
Today, Azerbaijan's production capacity in the field of green energy is 135GW hectares on land and 157GW at sea, according to technical estimates.