President: Existing domestic price for electric energy in Azerbaijan is affordable to foreign investors
Baku, March 14, AZERTAC
“So, existing domestic price for electric energy in Azerbaijan is affordable to foreign investors. Otherwise, they wouldn't have invested,” President of the Republic of Azerbaijan Ilham Aliyev said at a meeting with heads of Germany’s leading companies in Berlin.
“Today we already have two contracts, which are being implemented. One signed with Masdar, another signed with ACWA Power. These are two global energy companies, and they are investing largely in renewables. These two contracts are in the phase of implementation with total capacity is 470 megawatt. I hope we will have the groundbreaking ceremony with BP that will be 240 megawatt plus. So, three major energy companies consider that the pricing and regulations and the business climate in Azerbaijan for renewables is acceptable. Otherwise, they wouldn't have invested,” the head of the state emphasized.
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