China Eager To Tap Into Azerbaijan's Renewable Energy Potential For Large-Scale Initiatives

(MENAFN- AzerNews)
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Nazrin Abdul Read more

Azerbaijan, having achieved economic independence, hasseamlessly integrated into the global community through effectivepolicy measures. Notably, there has been a significant uptick inofficial visits between Azerbaijan and China, a pivotal player inthe global economy, indicating a strengthening bond between the twonations.

Despite the considerable difference in economic scale,Azerbaijan shares a development philosophy akin to that of China nations exhibit resilience to global risks and prioritiseleveraging internal resources for sustainable growth.

As a member of the Global South, Azerbaijan staunchly advocatesfor the interests of these nations within the Non-Aligned Movementand pledges further support within the COP29 framework. Notably,Azerbaijan wants to collaborate with China within COP29, asexemplified by recent discussions between the Azerbaijanidelegation and Chinese counterparts.

Chinese firms are keenly interested in collaborating withAzerbaijan, particularly in renewable energy. Discussions areunderway regarding the establishment of electric vehicle productionand renewable energy infrastructure, showcasing mutual investmentinterests.

Highlighting the burgeoning partnership, a recent meetingbetween Azerbaijan's Minister of Energy Parviz Shahbazov andrepresentatives from "China Energy Engineering Group Co. Ltd" and"China Energy International Group Co." underscored progress onrenewable energy projects. The meeting addressed the implementationof the 2 GW renewable energy projects outlined in the Memorandum ofUnderstanding signed with the "China Gezhouba Group OverseasInvestment" company.

The primary focus of the meeting was to discuss the developmentof multifaceted cooperation in renewable energy and collaborationopportunities with Chinese companies in preparation for COP29.

During the meeting, the Chinese representatives provided anoverview of projects undertaken by China Energy Engineering GroupCo. Ltd, emphasising their comprehensive development plans andservices for the energy and infrastructure sectors both in Chinaand globally. They also expressed a keen interest in participatingin large-scale activities to leverage Azerbaijan's significantrenewable energy potential.

Discussions centred around potential cooperation in establishinggreen energy corridors and interconnectors, facilitating greenenergy export, and advancing the production and transportation ofgreen hydrogen and green ammonia, as well as exploring energystorage systems.

The meeting also addressed issues related to the Memorandum ofUnderstanding on the implementation of 2 GW of renewable energyprojects signed between Azerbaijan's Ministry of Energy and ChinaGezhouba Group Overseas Investment. The participants assessedprogress and next steps for the construction of 60 MW and 100 MWsolar power plants. In conclusion, it was agreed to enhance mutualinteraction by establishing a Working Group tasked with evaluatingproposals for potential cooperation areas and collaborating onrelevant projects.

The strategic partnership between Azerbaijan and China extendsbeyond bilateral agreements. Azerbaijan's early endorsement ofChina's "One Belt, One Road" initiative positions it as a pivotallogistics hub bridging Eurasian nations. Key infrastructureprojects like the Alat port and the Baku-Tbilisi-Kars railwayfacilitate smoother trade routes between Europe and Asia,benefiting multiple Eurasian countries.

Additionally, it's noteworthy that a Memorandum of Understandingwas inked between the Ministry of Energy of Azerbaijan and theNational Energy Administration of China on October 17, 2023, duringthe "One Belt, One Road" International Cooperation Forum. Thissignificant document outlines the expansion of bilateral relationsin the energy sector, fostering cooperation on new technologies,energy infrastructure renewal, mutual investment promotion, and theexchange of expertise in renewable energy sources. Furthermore, itemphasises joint conferences, forums, and training initiatives.

Recalling China's "One Belt, One Road" initiative launched in2013, aimed at fostering infrastructure and mutual relations amongEurasian countries, it's essential to recognise Azerbaijan's earlyendorsement. As the first country in the Caucasus region to supportthis initiative, Azerbaijan serves as a pivotal logistics centre,hub, and bridge, facilitating the realisation of the "One Belt, OneRoad" strategy.

During the official visit of President Ilham Aliyev to China inDecember 2015, the "Memorandum of Understanding between theGovernment of the Republic of Azerbaijan and the Government of thePeople's Republic of China on the joint promotion of theestablishment of the Silk Road Economic Belt" was signed, furthersolidifying bilateral ties.

Notably, Azerbaijan's strategic geographical position as thesole country intersecting the "East-West" and "North-South"transport corridors creates opportunities for nations to the northand south to participate in this transformative project.

The inauguration of the port in Alat settlement in May 2018, aspart of Azerbaijan's "One Belt, One Road" mega project, equippedwith cutting-edge technological infrastructure, signifies asignificant leap forward. The operational systems enable cargoowners to monitor the location and status of their shipmentsonline, with plans to digitise all routes within the framework ofthe "One Belt, One Road" project, thus enhancing the efficiency oftrade cycles.

The Baku-Tbilisi-Kars railway, serving as the shortest rail linkbetween Europe and Asia, not only benefits Azerbaijan, Georgia, andTurkiye but also opens up new economic avenues for countries acrossthe Eurasian region.

In conclusion, the dynamic collaboration between Azerbaijan andChina spans political, economic, and infrastructural domains,propelling their relations to new heights of cooperation and mutualbenefit.

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