Within the 2nd Azerbaijan International Investment Forum, a Memorandum Of Understanding (MoU) was signed between the Ministry of Energy of the Republic of Azerbaijan and Vietnam’s ROX Group Joint Stock Company on cooperation to assess opportunities for the implementation of solar and wind energy projects in Azerbaijan.
The MoU was signed on behalf of the Ministry of Energy by Elnur Soltanov, Deputy Energy Minister, and on behalf of ROX Group Joint Stock Company by Pham Minh Tuan, Chairman of the Board of Executive Directors for Energy Companies.
The document envisages exploring the potential for the development of a 600 MW onshore wind power project in Azerbaijan and a 200 MW solar power project in the Nakhchivan Autonomous Republic, with a view to exporting electricity.
Under the MoU, the parties will cooperate on conducting feasibility studies for the projects, assessing available grid capacity, and exploring opportunities to integrate a portion of the electricity to be generated into the country’s electricity grid.
