France is interested in cooperation in the field of renewable energy in Azerbaijan

A meeting was held with Head of South Caucasus Department of French Development Agency Gaelle Assayag at Ministry of Energy.

At the meeting, it was noted that the Agency has been involved in the financing of sustainable energy supply, clean energy projects along with transport, agriculture and other spheres. In addition, the Agency has allocated 10.4 billion euros to 752 projects in various fields. Gaelle Assayag noted that the Agency is interested in participation in renewable energy sources and energy efficiency projects in Azerbaijan, and is ready to provide financial support.

Azerbaijani Deputy Minister of Energy Elnur Soltanov spoke about Azerbaijan's wind, solar and other renewable energy potential and informed about the work done to develop this field. It was noted that currently the normative legal base is being created for attracting private investments in the development of the renewable energy sector, and mechanisms for the application of preferential tariffs are being prepared. Cooperation documents were signed with BP, Total, Masdar and other foreign companies to expand use of renewable energy sources.

The sides exchanged views on perspective projects for renewable energy cooperation.