Azerbaijan And Chinese Company Agree To Co-Develop Green Energy

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 26. Azerbaijan and China have signed a Memorandum of Understanding (MoU) on cooperation in the development of a green energy corridor with China Datang Overseas Investment Co. Ltd, Azerbaijani Energy Minister Parviz Shahbazov wrote on his X page, Trend reports.

"We had a fruitful meeting with Chairman of China Datang Corporation Lyu Jun in China. We discussed the implementation of offshore wind energy development and solar power plant construction projects with China Datang Overseas Investment Co. Ltd. We signed a Memorandum of Understanding on cooperation in the development of a "green energy corridor" between the company and the State Agency for Renewable Energy Sources," he added.

To note, Azerbaijan is strategically advancing its green energy portfolio, targeting a 30 percent integration of renewable energy sources within its comprehensive energy matrix by the year 2030. This aspirational objective is integral to a comprehensive framework aimed at mitigating greenhouse gas emissions while concurrently diversifying the nation's energy portfolio. Azerbaijan exhibits substantial renewable energy capacity, especially in the domains of solar and wind energy resources, and is proactively engaging in strategies to lure foreign capital for the advancement of these initiatives.

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