Azerbaijan, China Gezhouba Group sign memorandum on renewable power projects totaling 2 GW

BAKU. June 2 (Interfax) - Azerbaijan's Energy Ministry has signed a memorandum of intent with China Gezhouba Group Overseas Investment on the implementation of renewable energy projects with combined capacity of 2 GW, Energy Minister Parviz Shahbazov reported on social media.

He did not provide the details of the projects.

In the past two years, Azerbaijan has signed memorandums and other documents with various foreign companies for renewable energy projects totalling 25 GW. Companies with which the country is working in this area include Masdar, ACWA Power and BP.

The potential for renewable energy in Azerbaijan is estimated at almost 200 GW.

China Gezhouba Group Overseas Investment Co. Ltd invests in real estate, construction, the cement industry and other sectors.