Memorandum of Understanding was signed with two more Chinese companies

Within the COP29, the Ministry of Energy, China Southern Power Grid International (Hong Kong) Co., Ltd and Powerchina Huadong Engineering Corporation Limited signed a Memorandum of Understanding in the field of energy storage. The memorandum outlines collaboration in areas such as pumped hydro storage (PHS), battery energy storage systems (BESS), high-voltage direct current (HVDC) transmission, and digitalization technologies for energy transmission and distribution networks. To ensure the effective implementation of the memorandum, working and steering groups will be established to strengthen coordination and monitor progress.

Before the signing ceremony, the Energy Minister Parviz Shahbazov met with delegations from the companies, led by Vice Presidents Fan Yalang, Liu Shaoquan and Zhu Bo.

The meeting discussed the strategic partnership between Azerbaijan and China as well as prospects for cooperation in renewable energy and energy storage technologies under the memorandum. Azerbaijan's efforts to expand green energy production and promote the development of energy corridors regionally and globally were highlighted. The participation of Chinese companies in this process was viewed positively in terms of integrating modern technologies and innovative solutions.