President: There is a big demand for Azerbaijani gas in Europe, and this demand is growing

Ilham Aliyev - the President of the Republic of Azerbaijan

© APA | Ilham Aliyev - the President of the Republic of Azerbaijan

# 09 December 2023 10:28 (UTC +04:00)

“With respect to foreign investments, of course, investments in fossil fuel project will continue. Because there is a big potential in Azerbaijan with respect to resources and big demand for Azerbaijani gas in Europe. It is a growing demand, but very remarkable development is related to renewable sources of energy,” said President of Azerbaijan Ilham Aliyev in an interview with Euronews channel, APA reports.

“I think, this will be the main direction of direct foreign investments. We already inaugurated last month the 230 MW solar power plant, the biggest in the region, fully invested by foreign investors. Up to 10 gigawatts of solar and wind power generation is planned to be implemented within next five-six years. I think, these will be the main areas of investments along with our agenda on digital transformation,” the head of state pointed out.

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