The European Commission stands ready to continue engaging with Azerbaijan on the development of offshore wind energy capacity, an EU official told Trend.
“Indeed, the new Memorandum of Understanding underpins cooperation on renewable energy, hydrogen, energy efficiency and methane emissions,” said the official.
The EU official noted that Azerbaijan has a large renewable energy generation potential, in particular in the offshore wind sector.
“Our economies can greatly benefit from offshore wind energy investment in the Caspian region. We deem important to ensure the conditions for rapidly scaling up renewable energy generation capacity investment. The European Commission stands ready to continue engaging with Azerbaijan on the development of offshore wind energy capacity, including by facilitating investment by European renewable energy companies into the Azerbaijani market. In this context, we call on Azerbaijan to implement as soon as possible the auction regime for renewable energy set up on the back of the framework developed with the technical assistance provided by the EBRD. The new MoU will underpin cooperation on our respective renewable energy policies, and will also provide an opportunity to discuss the development of electricity interconnections between the EU and Azerbaijan.”