TODAY.AZ / Business

Baku, Tokyo sign MoU on renewable energy

24 June 2023 [11:10] - TODAY.AZ

The Azerbaijan State Renewable Energy Agency (AREA) and Japanese Komaihaltec company have signed a Memorandum of Understanding on projects in the renewable energy sector.

The deal envisages a feasibility study for an optimal electricity system and heat supply through the production of hybrid electricity using renewable energy sources in Azerbaijan's mountainous regions, Azernews reports.

Earlier, Azerbaijan's Energy Ministry and Japan's TEPSCO company signed an agreement on the establishment of the green energy zone in the newly-liberated lands.

The document considers the establishment of a green energy zone based on modern energy management approaches to supply the region with energy.

Currently, Azerbaijan and Japan are cooperating in different sectors of the economy. Japanese companies in Azerbaijan work in oil and gas as well as in agricultural sectors. During the entire period of cooperation between the two countries, Japan has invested $7.1 billion in Azerbaijan.


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