"First of all, I want to direct foreign investors to build new stations. Let them come and invest money. I am sure that it will make a partnership between the state and private sector in this area possible”, President of Azerbaijan Ilham Aliyev said at the opening ceremony of the newly-reconstructed main administrative, scientific, educational and laboratory complex of Azerenerji Open Joint Stock Company in Baku, Caspian Energy reports, citing Azertag.

"Azerenerji has big plans, and I believe that they will be implemented as a result of a consistent policy. I would like to say once again that all this positive dynamics and stability have led to foreign investors’ decision to invest in Azerbaijan. An initial agreement was reached in January of this year, and two large companies with extensive experience in the field of renewable energy signed preliminary agreements with Azerbaijan," the head of state stressed.

According to him, two 440 – megawatt power plants will be built in Azerbaijan entirely at the expense of investors on the basis of these agreements - one is wind and the other is a solar plant.

As the leader of Azerbaijan noted, the country has a great potential for renewable energy and expressed confidence that both foreign and local companies will show interest in this sphere.

It should be noted that the experience of the EU, in particular such countries as Spain, India, China and others, shows that renewable energy sector will serve the intensive development of RES which have a large multiplier effect: creating new high-tech jobs, reducing emissions of pollutants, saving on energy consumption, stimulating demand for domestic engineering products and services for the construction of generating facilities.