The Ministry of Energy of Azerbaijan has signed 2 agreements on cooperation in the field of "green" energy
The Ministry of Energy of Azerbaijan has signed 2 agreements on cooperation in the field of "green" energy
Cooperation agreements between the Ministry of Energy of Azerbaijan and the American Nobel Energy and the Spanish “Elecnor” were signed in Baku today within the framework of the 10th meeting of the Advisory Council of the Southern Gas Corridor (SGC) and the 2nd meeting of the Advisory Council on Green Energy.
The Memorandum of Understanding signed between the Ministry of Energy and Nobel Energy provides for the construction of a 100 MW solar power plant in the Jabrayil district. The parties will also cooperate in the production, sale and consumption of electricity.
The Memorandum with the Spanish company “Elecnor” provides for cooperation in the implementation of a 70 MW wind farm project in the Garadagh district.
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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