Montenegro looks to co-op with Azerbaijan in renewable energy

Wed 13 Mar 2019 12:59 GMT | 16:59 Local Time

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The Montenegrin company Adriatic Capital is interested in joint participation with Azerbaijan in projects on the use of solar energy, said Marko Vujović, executive director of Adriatic Capital, during a meeting with the delegation of the Montenegrin company in the Ministry of Energy of Azerbaijan, Trend reports referring to the ministry.

The possibilities of cooperation in the field of renewable energy through Adriatic Capital were discussed during the meeting.

Vujović spoke about the current state of the alternative energy sector in Montenegro, the company's activities in this area, and projects which the company participates in. Vujović said that the company conducted an inspection of Azerbaijan regions possessing the potential for using renewable energy sources, and is interested in participating in projects on the use of solar energy.

Azerbaijani Deputy Minister of Energy Elnur Soltanov spoke about the solar and wind power plants operating in the country. Remarks were made on the work carried out for assessing the uses of the existing potential for the development of the field of renewable energy in Azerbaijan (wind and solar energy in particular), and assessing the investment opportunities, in the field of preparing legislative documents on renewable energy and energy efficiency, cooperating with various companies and financial structures, and improving the attractiveness of this area for private investors.

During the meeting, the sides discussed the signing of a memorandum of understanding with the Ministry of Energy on the development of the field of renewable energy and the negotiation on identifying the opportunities for future cooperation.




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