BAKU, Azerbaijan, March 14. Domestic price for electric energy in Azerbaijan is affordable to foreign investors, President of the Republic of Azerbaijan Ilham Aliyev said at a meeting held on March 13 in Berlin with the heads of leading German companies, Trend reports.
"Today we already have two contracts, which are being implemented. One signed with Masdar, another signed with ACWA Power. These are two global energy companies, and they are investing largely in renewables. These two contracts are in the phase of implementation with total capacity is 470 megawatt. Moreover, I hope we will have the groundbreaking ceremony with bp soon that will be 240 megawatt plus. So, three major energy companies consider that the pricing and regulations and the business climate in Azerbaijan for renewables is acceptable. Otherwise, they wouldn't have invested," President Ilham Aliyev said.