BP-Azerbaijan, Energy Ministry sign MOU on renewable energy

Baku. 18 December. REPORT.AZ/ BP-Azerbaijan and Energy Ministry have today signed a Memorandum of Understanding on research of potential opportunities for development of renewable energy in Azerbaijan.

The company told Report that the memorandum was signed in the context of Azerbaijani government’s recent announcement about elaborating legal normative base on renewable energy sources in Azerbaijan.

Energy Minister Parviz Shahbazov said that increase in production of renewable and alternative energy in Azerbaijan, raising the role of this energy in provision of energy security are the issues ahead of us to solve. According to him, international practice is not being studied, legislative base is being elaborated, consultations with international organizations are underway: "This document will lead to works done by Azerbaijan so far to enter the new development stage. I believe that our cooperation with BP-Azerbaijan based on oil and gas will be useful in this field too and we’ll jointly contribute to development of clean energy."

Gary Jones, BP's Regional President for Azerbaijan, Georgia and Turkey, said that the company is ready joint cooperation with the government to understand and explore the potential on renewable energy sources and supports creation of planned base for renewable energy sector in Azerbaijan: "We have been operating in global renewable energy sources for over 20 years. The energy obtained from renewable energy sources will reportedly remain as the fastest-growing energy form in the world. Because the used energy resources change to low-carbon sources. We welcome the government’s statement on elaboration of normative legal base on renewable energy sources and are pleased with signing this Memorandum of Understanding."