The Ministry of Energy and the Japanese company have signed a Memorandum of Understanding

Memorandum of Understanding on cooperation in the field of renewable energy was signed between the Ministry of Energy and Japanese Mitsui company. The Memorandum envisages co-operation and assessment of potential for investment in renewable energy projects in Azerbaijan. According to the document, key factors will be identified and developed in order to create a normative basis for encouraging investment in practical renewable energy projects in Azerbaijan.

The memorandum was signed by Deputy Minister of Energy Samir Valiyev and Mochida Kenichi, Vice President of Mitsui for European, Middle East and African Countries.

Deputy Minister of Energy Samir Veliyev spoke about renewable energy potential in Azerbaijan, work done to encourage investment in the development of this sector and noted that cooperation with Mitsui company will contribute to the development of renewable energy and implementation of joint projects in our country. Vice President of Mitsui company Mochida Kenichi assessed this document as an example of Azerbaijan-Japan cooperation in renewable energy. It was noted that the company intends to invest in renewable energy, especially wind energy projects in Azerbaijan.

The meeting focused on the main objectives and directions of future cooperation in renewable energy. Information was given about wind, water, heat, solar, gas, coal power stations projects implemented with the participation of Mitsui company in Brazil, Japan, Australia and other countries.