Azerbaijani Energy Minister Parviz Shahbazov invited German companies to cooperate in his country’s green energy projects.
Report informs, citing the ministry, that Shahbazov made the statement during an event organized by the Federation of German Industries (BDI) and attended by German Vice Chancellor and Federal Minister for Economic Affairs and Climate Action Robert Habeck.
“We invited German companies to collaborate on mega-projects focused on renewable energy production and export, with a particular emphasis on the development of green energy corridors,” the minister said.
According to Shahbazov, those initiatives not only support global energy security and the energy transition but also create new market opportunities for German businesses.
The minister noted that the COP29 Presidency demonstrates constructive activities and initiatives on important issues such as new climate finance, Nationally Determined Contributions (NDCs), National Adaptation Plans (NAPs), and Biennial Transparency Reports to achieve fair climate outcomes.
He emphasized that the final agreement to be reached in Baku represents a historic opportunity to initiate the post-Paris era and evaluated Azerbaijan's green energy initiatives as a significant step in contributing to the global energy transition.
The minister noted that the goal is to increase the share of renewable energy in the energy balance to 35.5% by 2030 and to a minimum of 40% by 2035. Under the initiative of Azerbaijan's President Ilham Aliyev, green energy corridor projects connecting Europe and Asia are currently being implemented, he said.
Before the event, together with Azerbaijani Minister of Economy Mikayil Jabbarov, Shahbazov had discussions with Germany’s Vice-Chancellor Robert Habeck on natural gas export, renewable energy cooperation and the involvement of German companies.