Intensive discussions are underway for the solar photovoltaic (PV) project of the United Arab Emirates’ (UAE) Masdar company in Azerbaijan, Mohamed Alqubaisi, Ambassador of the United United Arab Emirates in Azerbaijan, told Trend.
He was commenting on Masdar’s agreement with the Ministry of Energy of Azerbaijan to design, finance, build and operate a 200-megawatt utility-scale solar photovoltaic project.
“First of all, I would like to stress the significance of this agreement. Masdar Company is one of the world’s leading renewable energy companies. And Azerbaijan’s renewable energy sector is a very promising area. From this aspect, the Agreement is a great success opening up new perspectives for the progressive cooperation between our countries. Under the agreement, Masdar will develop, build and operate the 200MW solar PV project,” said the ambassador.
As for the process of the project’s implementation, Alqubaisi noted that the intensive communication and discussions are held despite the difficulties of the pandemic.
“The esteemed Ministry of Energy of the Republic of Azerbaijan and UAE Masdar Company are both committed to this Project and we hope that soon both of our brotherly countries will enjoy the productive results of the Project,” he said.
Alqubaisi went on to add that the diversification of energy sources and energy production is one of the main priorities for countries.
“ Azerbaijan is no doubt modernizing her energy policy being responsive to the world economics. The esteemed Azerbaijani government’s focus on the potential of renewable energy in the country, in its turn, demonstrates the favourable investment opportunities for foreign countries, including the UAE. The agreement mentioned above can be considered as an opening page in the contribution to the development of the cooperation between the United Arab Emirates and Azerbaijan in this field of the economy,” he said.
The envoy recalled that during the 7th session of the Joint Intergovernmental Commission on Economic, Trade and Technical Cooperation between the government of the United Arab Emirates and the government of the Republic of Azerbaijan held in Baku last November, the delegations expressed their interest in strengthening the bilateral cooperation in the fields of energy, renewable energy and energy efficiency.
“Together we explored the new perspectives of cooperation in this area such as cooperation in experience exchange regarding the application of modern technologies in the field of energy efficiency, other joint projects in power sector, etc.,” he added.
He said that the United Arab Emirates targets to increase mutual investments with Azerbaijan in new areas of economy.
“Both the United Arab Emirates and Azerbaijan are very well known for their hydrocarbon reserves. Both have vast successful experience in this sphere. I suppose, we need to focus on the areas, which can give opportunities for new experiences such as agriculture or innovative technologies. As esteemed Minister of Economy of the Republic of Azerbaijan underlined in his speech at the UAE National Day event last year, the UAE invested 2.2 billion USD into Azerbaijan’s economy and Azerbaijan invested 347 million USD into the UAE economy. So, we target to increase these figures in new areas of economy for the benefit of our friendly nations,” said the envoy.
He noted that Azerbaijan is a rapidly developing country with a favorable business environment.
“It is a country, where a number of international mega-projects are implemented. Its location effectively makes Baku the Dubai Chamber of Commerce and Industry’s gateway to other countries that are found in the Region such as CIS countries, Central Asia as well as to some European countries. Additionally the Dubai Chamber of Commerce and industry has made it possible for Azerbaijani businessmen and establishments to easily access economic prospects that are available in the United Arab Emirates as well as in the Middle East and North Africa. We are successfully developing the mutual tourism and services. Moreover, we are seeking for new efforts and activities of the business communities. Based on that in order to find untapped potential, I, as the Ambassador of the United Arab Emirates to Azerbaijan, initiated an annual productive platform of meetings and networking named the UAE-Azerbaijan Trade Majlis,” said Alqubaisi.
He pointed out that the Embassy is committed to create necessary conditions to assist the businessmen from both sides to meet and explore the opportunities aiming to buttress and boost the cooperation between the two countries.
“And the Embassy thanks His Highness President Ilham Aliyev for His support to us in this area, also we express our gratitude to the Azerbaijani Government and all relevant authorities,” Alqubaisi said.
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