Azerbaijan signs joint participation agreement with Turkish companies

Azerbaijan Investment Company OJSC, owned by the Ministry of Economy and Demirören Investment Holding A.?., a Turkish company, signed a Joint Participation Agreement between the Group of Companies and Arges Energy Team Ltd.

According to Azernews, this was announced by Minister Mikail Jabbarov in his account on the social network "X".

According to the Minister, the agreement aims to restore and operate 5 small hydroelectric power plants in the Kalbajar and Lachin districts, which are the next project to create a "green energy" zone in the territories of Azerbaijan liberated from occupation.

"Azerbaijan aims to get 30 percent of its electricity from renewable energy sources by 2030 and reduce greenhouse gas emissions. The project, implemented within the framework of a public-private partnership, along with the creation of new jobs, will contribute to the acceleration of the Great Population Return, sustainable economic development in the territories liberated from occupation, and the transfer of new experience and skills in the field of renewable energy," the minister said.