President: Azerbaijan`s potential for renewable energy sources is great


April 20, Fineko/abc.az. Azerenerji has plans, and I believe that as a result of a consistent policy, all these plans will be put into reality.

ABC.AZ reports that the above-said statement was made by Azerbaijani president Ilham Aliyev at the opening ceremony of the reconstructed main complex of management, science, education and laboratory of Azerenerji.

The head of state said: "Once again, I want to say that all this positive dynamics and stability have led to the fact that foreign investors have decided to invest in Azerbaijan. In January a preliminary agreement was reached, and two large companies with extensive experience in the field of renewable energy signed preliminary agreements with Azerbaijan. Based on these agreements, 2,440 MW power stations will be built in our country exclusively at the expense of foreign investors - one wind and one solar. I should also note that there are seven companies planning to implement these projects. I don't want to disclose their names, but among them there are the largest energy companies in the world. However, the competition showed that two companies have offered the best conditions, and they should already start this work. However, due to the coronavirus, there may be certain delay, but in principle, preliminary agreements have been reached. This, in turn, will pave the way for other companies. Our potential for renewable energy sources is very large, we have a lot of sun and wind. Therefore, I’m sure both local and foreign companies will show interest in this area," the country’s leader emphasized.