EU ambassador: Azerbaijan has great potential in green energy

ECONOMICS  09 June 2023 - 19:03

Azerbaijan has huge potential in green energy, the EU ambassador to Azerbaijan, Peter Michalko, told Report.

According to him, the EU and Azerbaijan have quite developed cooperation in the field of energy: "The Memorandum of Understanding on Strategic Energy Cooperation, signed last July, includes not only the issue of increasing the supply of Azerbaijani gas to Europe, but it also addresses such an important issue, as green energy. We see concrete steps in this direction. An example is the Agreement on the Strategic Partnership in the field of development and transmission of green energy between the governments of Azerbaijan, Georgia, Romania, and Hungary, signed in December last year," he said.

The ambassador noted that Azerbaijan is now focused on renewable energy, which he said is "the future of the energy sector". He added that it is encouraging to see how Azerbaijan has already started to successfully implement this sphere.

On July 18, 2022, the European Commission signed the new Memorandum of Understanding on a Strategic Partnership in the Field of Energy with Azerbaijan to increase imports of Azerbaijani natural gas to Europe by at least 20 billion cubic meters (bcm) annually by 2027.

Along with the gas exports, the two partners expressed interest also in promoting cooperation in the areas of renewable energy and connectivity. The Azerbaijani territories liberated from the Armenian occupation in 2020 have significantly increased Azerbaijan’s renewable energy potential.

Caliber.Az