Shanghai-based renewable energy company eyes to expand its business in Azerbaijan

(MENAFN- Trend News Agency) BAKU, Azerbaijan, Sept. 17

By Nargiz Sadikhova - Trend:

China's Universal Energy company is planning plans to expand its business in Azerbaijan to further support the transition of energy structure, the company official told Trend .

Currently Universal Energy has six new energy projects in Kazakhstan including three photovoltaic (PV) power projects in operation and three wind power plants which are under construction.

"Aiming to become a leading market player in countries along the Belt and Road Initiative, Universal Energy has been active in Kazakhstan market- the buckle of the Initiative, for five years. The company is now one of the largest investors for renewable energy projects in Kazakhstan," the company said.

The company official noted that with a total capacity of 380 MW, all six projects had been included in the Main list of China-Kazakhstan Industrial and Investment Projects.

"After all these projects' completion, the annual power generation is expected to reach 980 million kWh, which can meet the electricity demand of about 600,000 local households," the company official said.

The company official added that it is also estimated that the projects will reduce carbon dioxide emissions by 987,500 tons per year.

"By leveraging UE's advantages in Kazakhstan, including cost control, design optimization and flexible business model, UE plans to expand its business in Azerbaijan to further support the transition of energy structure, bringing green energy to power the local community," the company noted.

Universal Energy is a Shanghai-based international company focusing on the renewable energy industry and specializing in investing, constructing and operating wind power and solar power projects across the world.

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