Latvia Keen To Co-Op With Azerbaijan In Renewables - MFA| MENAFN.COM

Friday, 07 October 2022 03:45 GMT

Latvia Keen To Co-Op With Azerbaijan In Renewables - MFA


(MENAFN- Trend News Agency)

BAKU, Azerbaijan, August 8. Latvia sees potential for fruitful cooperation with Azerbaijan in renewable energy sector, the Ministry of Foreign Affairs of Latvia told Trend .

'Ensuring investments in sustainable energy capacities, notably wind- and solar-based generation, are perceived as a strategic priority in cooperation with Azerbaijan. There is a huge potential in the areas of research and development, knowledge transfer and technological exchange, as well as solar installation development,' the source said.

According to the ministry, Latvia shares the pan-European ambition of reducing harmful emissions and reaching a carbon-neutral macroeconomic output by 2050. The role of natural gas in the Latvian domestic energy mix had been decreasing over the last decade due to market, technological and regional factors. The main source of renewable energy in Latvia is biomass, followed by energy generated by hydroelectric plants.

Latvia welcomes the new gas deal signed between the European Union and Azerbaijan on July 18, 2022, to deliver 20 billion cubic meters of natural gas to the EU annually by 2027.

'The Government of Latvia has agreed to stop buying and using Russian natural gas as of January 1, 2023. The decision is a historic milestone towards the strengthening of Latvia's energy security and independence. Finding alternative gas supplies to the EU and diversification of energy sources to counteract the negative effects of situation in Ukraine are the top priorities on the agenda of the Government of Latvia,' the ministry added.

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