The ADA University hosts a conference organized by the Azerbaijani office of the American Chamber of Commerce (AMCHAM) on the theme Energy, Its Renewable Sources and Stability.
As the head of the State Agency for Alternative and Renewable Energy Akim Badalov said in his speech, the second program of development of this segment of the economy is developed against the background of the previous success of the project, which allowed to put into operation 19 power plants by optimization of the national project to build a wind farm on the island Pirallahi.
According to him, earlier the idea of building a power plant without the use of trestles would cost 1 billion manat, while the construction of such a facility on trestles in the end will save about half of the projected funds, as well as a perspective of about 200 thousand cubic meters of gas per year.
In addition, a cooperation agreement is prepared between the structure headed by Badalov and the US Agency for International Development (USAID), given that the existing ties with the US Agency for Energy are increased.
"We actively involve American technologies, but we are also determined to get access to cheap loans," he said. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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