Azerbaijan attracts Chinese investment as President Aliyev meets companies interested in the country’s renewable energy space
Sichuan Sunsync has proposed a solar panel manufacturing plant in the Alat Free Economic Zone, mainly targeting global market exports
POWERCHINA is exploring solar, wind, smart energy systems, green hydrogen, and local workforce development in Azerbaijan
Azerbaijan is drawing attention from Chinese companies seeking opportunities in its renewable energy market. President Ilham Aliyev recently met with representatives from Sichuan Sunsync and POWERCHINA to discuss potential collaborations in solar module manufacturing as well as large-scale solar and wind energy projects.
In a meeting with the President, the Founder and Chairman of Sichuan Sunsync, Xie Yi, discussed the development of a solar panel manufacturing facility in the Alat Free Economic Zone (AFEZ). This zone is situated near the Baku International Sea Trade Port, at the intersection of international transport corridors.
Yi stressed that this prospective factory will meet the highest technological standards and ship a large part of the output to global markets.
Yi stated that, given Azerbaijan’s favorable investment climate and the strong strategic ties between Azerbaijan and China, the company chose to invest in the country.
In another meeting with Chinese engineering giant POWERCHINA, Aliyev met the company’s Executive Vice President, Xi Yinfen, who discussed cooperation across various fields, including solar and wind power plant construction.
It will also explore the integration of smart energy systems, while training locals on their upkeep. Green hydrogen projects, construction, and production of equipment were also the points of discussion, according to the President’s office, which did not disclose other details.
Azerbaijan aims to increase the country’s renewable energy capacity to account for 30% of its total electricity mix by 2030, and bring down GHG emissions by 20% by 2050. It expects 3 GW of economic potential of onshore wind and 157 GW of technical potential for offshore wind, while its economic potential for solar energy is 23 GW.