Azerbaijan keen on investing in Iran’s renewable energy sector
By Sara Rajabova
Azerbaijan intends to invest in the renewable energy sector of its neighbor country-Iran.
Director of State Agency on Alternative and Renewable Energy Sources of Azerbaijan Akim Badalov made the remark during a meeting with Iran's Deputy Energy Minister Houshang Falahtian in Tehran on September17, IRNA reported.
Badalov said Azerbaijan intends to become closely acquainted with the work of geothermal power plants of Iran and to cooperate with the country in this area.
Azerbaijan is serious about the issue of participation in the Iranian projects on alternative and renewable energy sources, he stressed.
Falahtian, for his part, said Iran plans to boost the renewable energy sector's generation capacity up to 1,000 megawatts, noting that Iran is positive about Azerbaijan's intention to invest in its renewable energy sector.
He further said Azerbaijan's representatives can get all the necessary information by visiting and reviewing the work of geothermal and wind power plants in Iran.
Aside from that Falahtian said Iran also expects proposals from Azerbaijan on restoration of Lake Urmia, which is on the brink of drying out completely.
Falahatian noted that the current state of the Caspian Sea and Lake Urmia is important for both countries.
Tehran has in recent years focused seriously on development of ties with neighboring countries, including Azerbaijan which enjoys various commonalties with Iran in religious, historical and cultural fields.
Azerbaijan and Iran have had diplomatic relations since 1918. Iran recognized Azerbaijan's independence in 1991, and diplomatic relations between the two countries were established in 1992.
Data from the State Customs Committee of Azerbaijan shows that trade turnover between the two countries amounted to $281.03 million in 2013, which is 6.13 percent higher than 2012. The figure stood at $263.785 million in 2012.