We should work effectively to achieve our goals – President Ilham Aliyev

In order to achieve our goals, we must work efficiently, President of Azerbaijan Ilham Aliyev said at the plenary meeting on the signing ceremony of the “Agreement on a strategic partnership in the field of green energy development and transmission between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary” in Bucharest on December 17.

“Yesterday SOCAR and Romgaz signed a contract on gas supply from Azerbaijan to Romania starting from 1st January next year. So, Azerbaijan is expanding the geography of its gas supplies to European market. This is a win-win situation. Europe needs to strengthen its energy security. Azerbaijan needs reliable market for its huge energy resources.

Today, we start to build another energy bridge from Azerbaijan to Europe. Our country is planning to become an important supplier of electric energy to Europe, mainly green energy. Azerbaijan’s renewable energy potential is more than 27 gigawatt of wind and solar power on shore, and 157 gigawatt of wind power in Azerbaijani sector of the Caspian Sea. Together with one of our country`s strategic investor, we plan to implement 3 gigawatt of wind and one gigawatt of solar power by 2027, 80 percent of which will be exported. By 2037, we plan to create an additional capacity of at least 6 gigawatt.

Thus, only one global energy company is planning to invest in creation of 10 gigawatt of green energy in Azerbaijan. Two days ago, the Ministry of Energy of Azerbaijan signed a framework agreement with another global energy company. This company is planning to invest in creation of up to 12 gigawatt of wind and solar energy in Azerbaijan. So, at least 3 gigawatt of additional transmission capacity should be created for the first phase of Azerbaijani export.

In order to achieve our goals, we must work efficiently. Azerbaijan, Georgia, Hungary, Romania should work as one team, and in close cooperation and coordination with the European Union. I wish all of us success,” President Ilham Aliyev said.