AFEZ Extends Invitation To Renewable Energy Sector
Date
5/17/2024 10:09:30 AM
(MENAFN- AzerNews)
Nazrin Abdul Read more
Valeh Alasgarov, extended a warm invitation to companiesspecialising in renewable energy equipment production, Azernews reports.
During the“Raising Ambition, Enabling Action: COP29 SustainableBusiness Forum” in Baku, Chairman of the Board of the Alat FreeEconomic Zone, Valeh Alasgarov, emphasised AFEZ's openness to solarpanel manufacturers, wind farm equipment producers, and otherrenewable energy component companies.
The attractiveness of AFEZ for potential investors wasunderscored with the announcement of a planned cargo airportopening in the first half of 2026. Initially, the airport's cargoterminals are set to handle 500 thousand tons of cargo annually,with future plans to triple this capacity to approximately 1.5million tons per year.
Alasgarov highlighted AFEZ's strategic location, situated at thenexus of major transportation corridors, including the MiddleCorridor and the International North-South Transport Corridor(INSTC).
In addition to its geographical advantages, the AFEZ boasts theimplementation of green certificates and a preferential customs andtax regime. These initiatives are aimed at fostering a conduciveenvironment for sustainable business practices and attractinginvestment.
The establishment and organisation of activities within the AlatFree Economic Zone were set in motion by President Ilham Aliyev'sdecree on May 22, 2020, further solidifying Azerbaijan's commitmentto economic diversification and renewable energy development.
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