Azerbaijan discussed projects on renewable energy with Japanese companies

It is reported that AERA chairman Samir Akhundov received the chairman of Caspian Hydrogendevelopment Group LLC, Teymur Abbasov, manager of the new project development department of Toyota Tsusho Co, Fumihiko Sato and deputy manager of Eurus Energy, Tomataka Watanabe, Azernews reports, citing AERA.

According to the information, after the parties provided information on the activities of the institutions they represent, they discussed the directions of production and application of green hydrogen in Azerbaijan and other topics.

The event was also attended by employees of relevant structural units of AERA.

Azerbaijan has the potential to become a green hydrogen supplier to Europe due to its abundant renewable energy resources and existing infrastructure. It has the potential to install offshore wind farms with a total installed capacity of 7 GW by 2040, providing over 69,000 person-years of full employment and up to $7 billion in local gross value added. Companies such as Masdar, ACWA Power, bp, and Fortescue Future Industries have signed agreements with Azerbaijan to increase the supply of energy resources to Europe.