Spain Considers New Investment Opportunities In Azerbaijan (Exclusive)

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 30. In the medium term, the most promising areas are those where we already see practical traction and where Azerbaijan's own priorities are clearly moving, the State Secretariat for Trade of the Spanish Ministry of Economy, Trade, and Entrepreneurship said in an interview with Trend.

The digital economy is currently the most dynamic pillar, with a Spanish technology firm already well established in high-value technological cooperation.

"Energy and the green transition are also structurally important and increasingly in a way that combines existing infrastructure with new, renewables-driven opportunities. Spanish engineering and industrial contractors have delivered major projects for the national energy sector, including refinery modernization and other industrial upgrades. Spain's footprint also includes participation in major energy infrastructure linking Azerbaijan to Europe.

On the renewables side, cooperation is becoming increasingly tangible: joint initiatives with the public electricity utility include a 150 MW wind project ("Yeni Yashma") and a 300 MW photovoltaic project, supported by coverage from the Spanish export credit agency Cesce. At the same time, other Spanish groups, together with local partners, are advancing additional wind projects (for example, around 70 MW) and providing technical assistance on renewable programs, supporting the design and implementation side of the transition," the Secretariat stated.

The Secretariat emphasized that infrastructure remains a natural area for cooperation, given Azerbaijan's focus on reconstruction and connectivity.

"Finally, agriculture and water resource management are gaining weight, particularly through practical business engagement. A recent Spanish agribusiness trade mission to Baku brought companies active in areas such as irrigation, greenhouses, crop protection, and plant nutrition in full alignment with Azerbaijan's priorities for the agribusiness.

Overall, the most promising cooperation lies at the intersection of digitalization, sustainable infrastructure, and the green transition, with agriculture and water becoming increasingly relevant," the statement reads.

The statement also notes that, building on cooperation already underway, new projects are being considered, especially in areas linked to reconstruction, sustainability, and modern infrastructure.

"In this context, the Strategic Economic Dialogue is a practical tool to make future projects easier to deliver. It helps both sides achieve early and swift alignment on priorities and on the enablers that determine whether projects move fast from ideation to execution, clear scoping, realistic sequencing, permitting, and, where relevant, grid connection arrangements.

It also provides a structured channel to discuss financing and risk mitigation architecture and to address implementation obstacles early, in a cooperative way.

Overall, the Dialogue supports an agenda that can grow organically, as enabling conditions mature and new mutually beneficial opportunities take shape," the State Secretariat reports.

The Secretariat noted that Spain sees clear potential to deepen cooperation in solar and wind energy, where Azerbaijan's ambitions align well with Spain's proven technological leadership across the full project cycle, from design and engineering to grid integration and operation.

"Hydrogen is approached in a targeted and forward-looking way. Spain has accumulated significant experience along the hydrogen value chain and follows with interest Azerbaijan's steps towards hydrogen-ready infrastructure, including initiatives aimed at strengthening future interconnections with European markets," the Secretariat reports.

The statement emphasized that this creates scope to explore cooperation on hydrogen selectively, as renewable capacity expands and the necessary infrastructure and regulatory frameworks mature.

"There is a possibility for Spanish infrastructure and engineering companies to participate in projects related to the development of transport hubs and logistics centers in Azerbaijan. Spain sees significant opportunities for cooperation in the development of transport hubs and logistics infrastructure, particularly as Azerbaijan continues to strengthen its role as a regional connectivity platform.

This forward-looking interest builds on existing Spanish involvement in Azerbaijan's transport and logistics ecosystem, including proven cooperation in areas such as air traffic management and airport digital systems, as well as related operational and support services.

More broadly, Azerbaijan's reconstruction and connectivity plans-covering roads, airports, multimodal logistics platforms, and transport corridors-align well with Spain's internationally recognized capabilities in infrastructure construction, transport engineering, digital solutions for mobility, and integrated logistics," the Secretariat added.

Overall, Spain views the development of transport hubs and logistics centers in Azerbaijan as an area with outstanding potential for collaboration, building on existing cooperation and closely aligned with both countries' strategic interests in connectivity, economic diversification, and regional integration.

"Spain recognizes the growing strategic relevance of the Middle Corridor as a key component of Eurasian connectivity, particularly in the current effort to diversify and reinforce trade routes between Europe and Asia. In this framework, Azerbaijan plays a central role, and its sustained investment in transport infrastructure and logistics significantly enhances the corridor's viability.

From Spain's perspective, the Middle Corridor contributes to greater resilience and optionality in supply chains, complementing existing routes and supporting a more balanced connectivity architecture. This approach is closely aligned with European priorities, including those promoted under the EU Global Gateway strategy, which seeks to advance secure, sustainable, and high-quality connectivity through investments in infrastructure, digitalization, and logistics along strategic corridors," the Secretariat stated.

The statement adds that more broadly, Spain sees the corridor as consistent with a European connectivity vision based on partnership, investment, and standards.

"By supporting modern, efficient, and interoperable transport routes across the South Caucasus and Central Asia, the Middle Corridor can play a constructive role in strengthening Europe–Asia links in a way that is economically viable, environmentally sustainable, and geopolitically balanced," the Secretariat concluded.

The Middle Corridor is a transport trade route passing through several countries in the region and connecting Asia with Europe. It serves as an alternative to the traditional Northern and Southern corridors.

The route begins in China and passes through Central Asian countries such as Kazakhstan, Uzbekistan, and Turkmenistan. It then crosses the Caspian Sea, Azerbaijan, Georgia, and Türkiye before reaching Europe. The Middle Corridor is a land-based route that bypasses longer maritime paths, linking eastern parts of Asia, including China, with Europe.

MENAFN30032026000187011040ID1110916292