The development of renewable energy in Azerbaijan requires close cooperation between the state and private sectors, the Director of SOCAR Green Elmir Musayev said during a discussion at the international energy exhibition in Baku, Report informs.
He emphasized that support for new directions, such as geothermal energy, is especially important: "The government is taking steps to improve legislation. We are negotiating with potential partners and international organizations. Public-private partnership is very important for the development of such industries. It's not just about attracting high-tech companies, but also about the need for subsidies and benefits," Musayev noted.
According to him, certain progress has been achieved in the development of solar and wind energy. "New tariffs are already being applied, and energy storage systems - especially battery technologies - are becoming a key element of new investments. As investors, we protect our interests, and as a state structure, we build productive dialogue with ministries, other government structures, as well as private companies and foreign investors operating in the country," he added.
