Azerbaijan signs Joint Participation Agreement with Turkish companies

Azerbaijan aims to derive 30% of the generated electricity from renewable sources and reduce greenhouse gas emissions by 2030, said Economy Minister Mikayil Jabbarov, Report informs.

"The Joint Participation Agreement has been signed among "Azerbaijan Investment Company" OJSC, Türkiye's "Demiroren Yatirim Holding A.S.," and "Arges Enerji Team" LLC for the restoration and operation of 5 small hydropower plants in Kalbajar and Lachin districts. This project is a significant step toward establishing a "green energy" zone in the liberated territories. Implemented as part of a public-private partnership, the project will not only create new jobs but also accelerate the Great Return, foster sustainable economic development in the liberated territories, and transfer new experiences and capabilities in the renewable energy field," Jabbarov said on X.