On Wednesday Georgian Minister of Energy Kakha Kaladze and Anzor Kvarazkheliya, Director of Kura Energy company, signed the memorandum of understanding to build 16 new hydraulic power stations.
The memorandum envisages work on the feasibility study of the projects. The company must complete the studies within 27 months. Afterwards the technical data of the stations will be specified and the investors will start preparations for the construction works.
Total capacity of the new hydraulic power stations envisaged by the memorandum will be 331.6 Mwt and annual generation – 1,815 billion KWh.
Approximately $600 million will be invested into the project. 4500 jobs will be placed during construction and 400 permanent jobs will be created as soon as the power stations are put into operation. The stations will be located along the Kura river bed.—0—
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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