"The European Commission in its public statements always refers to Azerbaijan as a reliable partner in the energy field. And this energy is growing," President Ilham Aliyev said during his speech at the Azerbaijan-Latvia Business Forum.
"We started from oil sales; now we export natural gas, we export electricity, petrochemicals, and are planning to export green energy. So one of the areas of investments which is in our portfolio is renewables, with a huge potential for sun and wind. We are already enjoying strong interest from major actors. Our plan, which is based not only on our aspirations but also on signed, legally binding contracts, is to have 8 gigawatts of solar, wind, and hydro power by 2032. And this is absolutely realistic. We will largely substitute natural gas, which we use for electricity production, with renewables, and that will save us several billion cubic meters of gas, which is so needed now on international markets," the President of Azerbaijan emphasized.
