Agreement on restoration of small hydropower plants in Azerbaijan's Kalbajar and Lachin districts signed
Azerbaijan Investment Company OJSC has signed a join participation agreement with Demiroren Yatirim Holding A.S. and Arges Enerji Team LLC for the restoration and operation of 5 small hydropower plants in Kalbajar and Lahcin districts, Azerbaijan’s Minister of Economy Mikayil Jabbarov said on X, News.Az reports.
Minister Jabbarov noted that this project is a significant step toward establishing a "green energy" zone in the liberated territories.
“Implemented as part of a public-private partnership, the project will not only create new jobs, but also accelerate the Great Return, foster sustainable economic development in the liberated territories and transfer new experiences and capabilities in the renewable energy field,” he added.
The minister also stated that Azerbaijan aims to derive 30% of the generated electricity from renewable sources and reduce greenhouse gas emissions by 2030.
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