BAKU, Azerbaijan, June 13. The German-Azerbaijani Chamber of Commerce is working to attract German companies in the field of renewable energy sources to Azerbaijan, Executive Director of the German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) Tobias Baumann told Trend.
"A delegation on renewable energy sources visited Azerbaijan last year. We have a program of the Ministry of Economy and Climate Action, and it supports business delegations on promising topics, such as the development of renewable energy sources in Azerbaijan," he said.
"We know that Azerbaijan has a high potential in the field of renewable energy. We see a lot of interest in the German business community in this sector. Moreover, our Chamber of Commerce organized a Forum on Economic Sustainability and held meetings in the B2B format. Our companies are studying the Azerbaijani market, its conditions and legal environment. We have 2-3 projects that we are currently working on," he added.
Baumann said that the German side is negotiating with the Azerbaijani government to participate in auctions for renewable energy.
"There are some aspects that need to be clarified, for example, the price. Azerbaijan has really low consumer prices for electricity, which is not very attractive for large German investors. I believe that cooperation initiatives can come from medium-sized companies," he added.
"There are other possibilities that are being discussed today between German companies and the Azerbaijani side. If the auction takes place, I think there will be opportunities that will satisfy the interests of German bidders," Tobias Baumann said.