President Ilham Aliyev’s interview was broadcast on Euronews channel [PHOTOS]

On June 21, Euronews TV channel aired a report on the 29th International Caspian Oil & Gas Exhibition - Caspian Oil & Gas and the 12th Caspian International Power and Green Energy Exhibition - Caspian Power held as part of the Baku Energy Week at the Baku Expo Center.

The report also included an interview with President of the Republic of Azerbaijan Ilham Aliyev.

Azernews presents the complete interview.

Correspondent; Mr. President, fantastic to see you as always, and a very big announcement you made today with Masdar and His Excellency Sultan Al Jaber. Can you please tell us a little bit more information about what your plans are?

President Ilham Aliyev: Yes, it is really a remarkable event, which actually demonstrates our green agenda, and that Azerbaijan is attractive not only for those who invest in fossil fuels, but also for those who invest in renewables. Masdar is our strategic partner in the area of renewable energy. Last October, we already inaugurated the first solar power station of 230 megawatts, and held today a groundbreaking ceremony for three solar and wind stations with total capacity of one gigawatt. And this is only the beginning. Because we plan to implement all the contracts, MoU’s, and that means up to ten gigawatts in mid-term and up to five gigawatts until 2030. That's our target. Potential is here you can see the sun the ambition, and the wind. There is good investment climate. It really demonstrates how a country, which generated wealth from fossil fuel now, is channeling this wealth into renewable energy. As a host country of COP29, this is also our obligation to be among the frontrunners on green transition.

Correspondent: What are the challenges when you have traditional energy sector and making that transition into the new green renewable energy?

President Ilham Aliyev: Well, actually, it is, as every new endeavor, full of uncertainties. But we have great partners, Masdar, as I said, is a strategic partner but we have also ACWA Power, bp among our investors and many more companies from different countries, which are planning to work with us. So, in oil and gas, we know the whole alphabet. Here we just start. Therefore, the challenges could be with national energy grid, because we need to reinforce it to be able to absorb as much as we can offer to investors. Another challenge is with respect to the transmission lines, because here we need to work actively with our neighbors, because Azerbaijan itself will not need as much renewable energy as we plan to produce. So, our target is export and also to have a very sophisticated approach on using renewables to a maximum degree to produce electricity and saving natural gas, sending it to those who need it now, primarily in Europe, So, there are many things which we need to tackle. Those which solely depend on our internal agenda, I have no doubt, will be fully implemented. Those which need international partnership, we, of course, need to work with our partners.

Correspondent: Over 300 representatives from over 37 countries here at Baku Energy Week. That just goes to show the commitment of other companies and why this conference is a global leader within the energy sector. Yes?

President Ilham Aliyev; I think so. Actually, the fact that it has been 30 years already, and the first was organized back in 1994. Secondly, if you look at geography of the countries or number of companies, you will see the growing number of participants. Not many energy events have an honor to be addressed by the President of United States. And it has been throughout all the years of this event and this actually demonstrates its unique origin and capacity. So, all these actually make this event, to my mind, the most advanced and the most inclusive platform to address different issues and the way how it transformed. The first one was the Caspian oil exhibition. When we started to produce gas it became the Caspian oil and gas exhibition and conference. Then, after we started to work on renewables, it became the Baku energy week, which embraces different segments. So, in one country, in a relatively short period of time, you can see success story on every track - natural gas, fuel oil, and now green energy.

Correspondent: And by your own special decree, you announced the Green World Solidarity Year, didn’t you?

President Ilham Aliyev: Yes, Exactly. And that's one of our main targets for us as the host country to create unity and solidarity and to create such a positive atmosphere at COP and later, after we will continue as a president so that countries and companies would love to work together and put down mutual claims, concentrate on main agenda and on how to save the planet.

Correspondent: Mr. President, it was as always a pleasure. Thank you. So much.

President Ilham Aliyev: Thank you very much.