President: "In 2020, Azerbaijan will become an even stronger state"

President: "In 2020, Azerbaijan will become an even stronger state"
  • Clock-gray 02:10
  • calendar-gray 17 January 2020

"2020 has just begun, and it has begun well. I can say that two projects were signed in Baku a few days ago, an executive agreement with two major investors. This is a very important step aimed at creating renewable energy. Two large power plants will be built – wind and solar. The importance of this event is that the funds will be invested by investors. So it is about confidence in us, support for the long-term development of Azerbaijan," President of the Republic of Azerbaijan Ilham Aliyev said during his opening speech at the meeting on the results of 2019, APA reports.

The Head of State emphasized the capacity of the two stations will be 440 megawatts. "These will be very large stations, the largest solar and wind power stations in the region. We are creating renewable energy ourselves too – a 50-megawatt station has been built. At present, the design of a 84-megawatt station is drawing to a close, and we will do that. Today, the share of renewable energy in our energy balance is approximately 17-18 percent. According to our long-term strategy, we must bring it to at least 30 percent. I should also say that nine companies participated in the tender. So nine major companies are ready to invest in production of renewable energy in Azerbaijan. Two companies that offered more favorable conditions were selected. But this doesn’t mean that the other companies will be left on the sidelines. We invite them. Let them revise their proposals, make the conditions more acceptable for us, for our country, and please, there is enough room for them in Azerbaijan. Thank God, Azerbaijan is rich in both the sun and the wind and has modern energy infrastructure. Again, according to the Davos report, Azerbaijan ranks second in the world in terms of accessibility of energy. We also have exports, last year we exported energy worth more than $60 million. Therefore, I am confident that the creation of renewable energy will become another priority sector for us. I am instructing the Cabinet of Ministers to consider the proposals of the companies that participated in the tender, invite them, conduct negotiations with them individually, so that they could implement a similar project in Azerbaijan.

In a nutshell, I am sure that Azerbaijan will develop successfully this year. In 2020, Azerbaijan will become an even stronger state."

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