Baku hosts Azerbaijan-US Green Energy Forum

The Azerbaijani-American Green Energy Forum organized by the Ministry of Energy and the Agency for Export and Investment Promotion (AZPROMO) was held in Baku on April 3.

According to Report, the forum was chaired by Deputy Minister Elnur Soltanov and Arun Venkataraman, US Assistant Secretary of Commerce for Global Markets.

First there was a bilateral meeting between the co-chairmen. At the meeting there was an exchange of views on expanding ties between the two countries in the field of energy, exploring opportunities for cooperation on green energy and other issues of mutual interest.

The deputy minister briefed the participants on the strategic goals in the field of renewable energy, the extensive work done and the projects underway: "Within 8 months, we signed cooperation documents with Masdar, ACWA Power and Fortescue Future Industries for green energy projects of 25 GW. These production capacities, which are planned to be phased into operation by 2040, are many times greater than our demand, and our potential is many times greater than the opportunities that will be created. The Azerbaijani sector of the Caspian Sea with a wind energy potential of 157 GW, the liberated territories and Nakhchivan are the most attractive places for green investments.”

The Green Energy Forum continued with business meetings organized between Azerbaijani and US companies.