Azerbaijan explores green energy partnership with PowerChina

Azerbaijan has explored potential cooperation opportunities in the green energy sector with China's PowerChina Resources Ltd. company, Report informs, citing Azerbaijan’s Economy Ministry.

The discussions took place during a meeting between the Minister of Economy Mikayil Jabbarov and the President of the Chinese company, Yang Tianfu, as a part of COP29.

During the meeting, it was emphasized that cooperation relations with Chinese business circles are developing, and information was provided about the business environment and opportunities created for investors in Azerbaijan.

It was noted that increasing energy efficiency and developing the renewable energy sector are among the main priorities of the country. There are extensive opportunities for partnership to establish specialized enterprises in this field in Azerbaijan.

The parties discussed cooperation in the green energy sector, taking advantage of the favorable business environment in Azerbaijan, and the possibilities of implementing joint investment projects.

They also exchanged views on the application of new technologies in renewable energy use, innovative mechanisms for efficient resources utilization, the creation of a zero-emission industrial park, and cooperation opportunities.