On February 28, the German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) held its AHK Impuls event, which was attended by representatives of more than 70 member companies, partners of the Chamber and delegates of the Association of Eastern Business of Germany. The event served as a platform for meaningful discussions about the changing energy landscape of Azerbaijan.
Azerbaijan has released its first Investment Promotion Document (IPAD) in the green energy sector. This landmark document, aimed at incentivizing investments in renewable energy sources (RES), marks a pivotal moment in Azerbaijan's transition towards sustainable energy practices.
Azerbaijan is considering the establishment of sodium cyanide production, a move that could significantly impact the mining industry and bolster economic ties with Turkey. Discussions on this initiative transpired during a meeting in Baku between Economy Minister Mikail Jabbarov and Yasin Ozturk, founder of the Turkish company TYÖ Yatırım.
In a bid to bolster energy efficiency initiatives, Azerbaijan has announced the allocation of a portion of revenue from electricity, natural gas, gasoline, and diesel fuel sales to the newly established Energy Efficiency Fund. According to recent reports, 0.03% of revenue generated from the sale of electricity and natural gas within the country, alongside 0.5% from the sale of A-92 gasoline and diesel fuel, will be channeled into the fund.