ECONOMY


Azerbaijan`s Energy Ministry, Japan’s Mitsui sign MoU

Baku, June 19, AZERTAC

Azerbaijan`s Deputy Minister of Energy Samir Valiyev and Vice President for Europe, Middle East and Africa of Japanese Mitsui Company Mochida Kenichi have signed a Memorandum of Understanding on cooperation in the area of renewable energy.

The MoU sets forth main principles of cooperation in the field of investment in renewable energy sources and evaluation of the potential.

Valiyev highlighted the renewable energy potential in Azerbaijan, and the government`s measures to encourage investment in this sector. He noted that cooperation with Mitsui will contribute to the development of renewable energy sector and implementation of joint projects in Azerbaijan.

Vice-President of Mitsui Kenichi described the signing of the document as an example of Azerbaijan-Japan cooperation in the field of renewable energy. He noted that the company intends to invest in renewable energy, especially wind energy projects in Azerbaijan.

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