PowerChina eyes investment opportunities in Azerbaijan's energy sector PHOTO

Azerbaijan’s Minister of Economy Mikayil Jabbarov met with Wang Bin, the President of PowerChina, to discuss potential investments and collaborative projects in Azerbaijan's energy sector.

The meeting highlighted Azerbaijan’s commitment to enhancing the efficiency of its energy sector, focusing on increasing the share of renewable and alternative energy sources. These objectives are key components of Azerbaijan's broader economic development strategy, the Ministry of Economy of Azerbaijan told Caliber.Az.

During the talks, both sides explored opportunities for PowerChina to invest in Azerbaijan’s energy infrastructure, particularly in the realm of renewable energy. Discussions also centered on the possibility of joint ventures aimed at advancing Azerbaijan’s renewable energy capabilities, an area where the country is seeking to increase its reliance on clean energy sources.

The meeting underscored the importance of attracting foreign investment to further diversify Azerbaijan's energy landscape, an area that has seen growing interest from international investors. PowerChina’s expertise in energy development could play a vital role in supporting Azerbaijan's efforts to transition toward more sustainable energy solutions.

Both parties expressed optimism about future cooperation, emphasizing that such partnerships could contribute significantly to the energy sector's growth and diversification in Azerbaijan.

By Vafa Guliyeva