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Foreign companies interested in investing in renewable energy projects in Azerbaijan
19.09.2019

Baku, Azerbaijan, Sept. 19

By Kamala Mammadli – Trend:

Foreign companies are interested in making large investments into projects in Azerbaijan, related to the use of renewable energy sources, Azerbaijani Minister of Energy Parviz Shahbazov said at a press conference at the headquarters of the ruling New Azerbaijan Party, Trend reports.

According to him, the proposals of these companies are currently being looked into.

The minister noted that companies in Europe, China, Turkey, Japan and South Korea are ready to cooperate with Azerbaijan in this area.

"The production of energy through renewable energy sources with a capacity of 1 billion kilowatt-hours per year will help save about 245 million cubic meters of natural gas," Shahbazov said.

He added that, according to forecasts, the share of renewable sources in electricity production in Azerbaijan will reach 85 percent by 2050.