Azernews.Az

By Leman Mammadova

Relying on the strong cooperation in oil and gas sector, Azerbaijan and the UK regard prospects for cooperation in renewable energy.

The issue was discussed during a meeting between Energy Minister Parviz Shahbazov and a delegation led by the UK Prime Minister's Trade Envoy to Azerbaijan Baroness Emma Nicholson, on October 28.

The meeting hailed successful development of bilateral relations between Azerbaijan and the UK, particularly in the energy sector. The sides discussed mutually beneficial cooperation between BP and Azerbaijan.

Shahbazov stressed that BP is Azerbaijan's main partner in the energy sector, and pointed to the prospects of cooperation in renewable energy.

In turn, Nicholson expressed interest in the current state of activities in renewable energy.

In this regard, the Azerbaijani side noted that the proposals from various companies are currently being evaluated. The issue regarding the integration of wind and solar projects into the network is being studied.

The sides also exchanged views on the increasing role of renewable energy in sustainable energy supply in the world, competitiveness of renewable energy due cost reduction and contribution of ecologically clean energy to environmental protection.

The UK is Azerbaijan’s strategic partner in many spheres of cooperation and both countries are interested in expanding economic ties.

For the UK, the Caspian region is an area of great opportunity as Azerbaijan makes the most of its strategic geographic position, energy resources and transport links.

BP is the largest foreign investor in Azerbaijan that helped the Azerbaijani government to transform its economy, establishing a solid foundation to build business success.

Azerbaijan is currently studying the international experience in the development of renewable energy sources, in the creation of legal framework in this direction.

BP, which has been playing a key role in the development of the oil and gas sector in Azerbaijan, will also become the country's reliable partner in the field of renewable energy.

Azerbaijan signed the relevant document on renewable energy with BP in late 2018.

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Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888

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