BAKU, Azerbaijan, October 18. China, strengthening its leadership in the field of green energy, also appreciates investment opportunities in this direction in Azerbaijan, Trend reports.
According to the memorandum of understanding signed between Azerbaijan's Ministry of Energy and China Gezhouba Group Overseas Investment on the implementation of renewable energy projects with a capacity of 2 GW in Azerbaijan in June of 2023, work has already begun on the creation of solar energy capacity, onshore and offshore wind energy, energy storage, and integrated smart energy systems, as well as the production of green hydrogen.
An important component of the agreement provides for the participation of the Chinese Dongfang company in the construction of the 230 MW Garadagh solar power plant and the largest thermal power plant with a capacity of 1,280 MW, which will begin operating in 2025 in Azerbaijan's Mingachevir city.
Moreover, Chinese companies will become one of Azerbaijan’s main partners in projects implemented in the liberated territories.
Demand for energy resources in Azerbaijan is growing, but at the same time, the transition to green energy sources is important to mitigate the effects of climate change. China is interested in supporting Azerbaijan in this direction, which could create conditions for expanding economic cooperation between the two countries. China has significant experience in solar and wind energy technologies. By utilizing these technologies, Azerbaijan aims to increase its local energy production. China can also support the development of green energy projects in Azerbaijan by collaborating with the International Renewable Energy Agency (IRENA) and other international organizations.
China pays special attention to energy security issues within the framework of the "One Belt, One Road" initiative. The green energy projects being implemented in Azerbaijan could significantly alter the energy balance in the region. China has extensive experience in solar, wind, and hydro energy. Transferring these technologies to Azerbaijan could help boost the country’s energy production and create modern energy systems. This is also crucial for developing infrastructure in this sector and creating jobs.
In the future, more green energy projects are expected to be realized between the two countries.
This is important not only for China and Azerbaijan but also for diversifying the regional energy market.
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