In recent years, Azerbaijan has invested billions of dollars in transport infrastructure and has become one of the transport and logistics nodes of Eurasia along the transport corridors of the East-West and the North-South.
This was stated by President of Azerbaijan Ilham Aliyev, speaking at the 16th summit of the organization of economic cooperation in the capital of Uzbekistan Tashkent.
“The construction of Azerbaijani sections of both corridors has already been completed. We are currently working on expanding the throughput of the railways passing through these corridors,” he said.
Azerbaijan as a member of the Organization of Economic Cooperation (SEC) takes an active part in the organization, said the president.
According to the president, over the past twenty years, more than $ 310 billion has been invested in the economy of Azerbaijan, of which about $ 200 billion has been for the defense of the non -energy sector.
The head of state noted that this is the result of a favorable investment climate in the country.
Aliyev noted that Azerbaijan is officially approved as a country where the center of pure energy of the OES will be located.
“Despite the fact that Azerbaijan is rich in oil and gas resources, we pay special attention to the development of the renewable energy sector. The potential of renewable energy sources of Azerbaijan is 37 GW of wind and solar energy on land and 157 GW of wind energy in the Azerbaijani sector of the Caspian Sea,” – He emphasized.
The president noticed that in the near future Azerbaijan will become a potential exporter of “green”, including hydrogen energy.
“In accordance with the contracts and memorandums of mutual understanding, signed with foreign investors who are leading world companies in the field of” green “energy, the production of energy from renewable sources in Azerbaijan will reach 10 GWs in the coming years,” the head of state noted.
According to the president, in 2021-2023, in the liberated Karabakh and East Zangesure, a hydroelectric power station with a total capacity of 170 MW was commissioned
“By the end of 2024, this indicator will reach 270 MW. After a few years, the total capacity of our hydroelectric power station in the territories liberated from the Armenian occupation will be 500 MW,” Aliyev emphasized.