Azerbaijan inks MoUs with Chinese firms in green energy

Within the framework of COP29, Azerbaijan's Energy Ministry has signed Memorandums of Understanding (MoUs) with China's PowerChina Resources Limited and TBEA Co., Ltd in green energy, Report informs, citing the ministry.

Prior to the signing ceremonies, Energy Minister of Azerbaijan Parviz Shahbazov held meetings with delegations led by Xu Pengcheng, Vice President of PowerChina Group, Yang Tianfu, President of PowerChina Resources Limited, and Hu Nan, Board Member and President of International Business of TBEA Co., Ltd.

The meetings highlighted the crucial role of renewable energy cooperation in the strategic partnership between Azerbaijan and China.

It was noted that PowerChina Resources Limited, as a company with extensive potential and experience in renewable energy investments abroad, is interested in investing in renewable energy projects in Azerbaijan and collaborating in planning, designing, constructing, and operating renewable energy projects.

Meanwhile, TBEA, a company specializing in the production, engineering, procurement, construction, and financing of power transmission and distribution, power plants, renewable energy, and other critical infrastructure projects, expressed its intention to cooperate with Azerbaijan in the field of renewable energy equipment and technologies.

Later, the signing ceremony took place.

The signed MoU between the Energy Ministry of Azerbaijan and PowerChina Resources Limited encompasses cooperation on industrial-scale solar PV projects, onshore/offshore wind power plants, pumped hydro storage (PHS) and battery energy storage systems (BESS), integrated smart energy and green hydrogen production projects, training of local specialists, and exchange of technological knowledge. Special emphasis will be placed on the development, financing, construction, and technical service of PHS and BESS infrastructure.

Similarly, the MoU between the Azerbaijani Energy Ministry and TBEA Co., Ltd covers collaboration in relevant areas, including the production and supply of renewable energy equipment and technologies.

Under this agreement, cooperation will be fostered in the provision of ultra-high voltage and flexible DC and AC products, the production of high-tech power grid equipment in industrial parks and free economic zones in Azerbaijan, the establishment of a Data Center, investment and financing of renewable energy and electricity projects, as well as participation in renewable energy and regional green energy connectivity projects.