BAKU, Azerbaijan, March 10. Croatian Energia
Naturalis d.o.o. (ENNA) company has announced the details of the
memorandum of understanding (MoU) signed with the Azerbaijan
Renewable Energy Agency (AREA) under the Ministry of Energy on
cooperation in renewable energy.
In response to Trend‘s inquiry, the company said that the memorandum
defines the framework for cooperation for an initial 12-month
period. The company emphasized that over this period, the main
focus will be on joint assessment activities, exchange of
experience, and the preparation of conditions that can support
future investments in renewable energy sources.
The company noted that, according to the memorandum, AREA and
ENNA will cooperate in assessing existing opportunities in the
renewable energy sector of Azerbaijan and determining the necessary
basic conditions for economically viable investments. The company
underscored that this cooperation will be focused in particular on
renewable energy projects, including solar power plants and wind
power plants.
“The cooperation includes the establishment of a Joint Steering
Committee consisting of representatives of AREA, relevant
Azerbaijani energy agencies, and ENNA. This committee will guide,
monitor, and make decisions on the basis of mutual agreement on the
activities carried out within the framework of the memorandum.
This memorandum of understanding is considered an important step
in the international expansion of the Energy Division of the ENNA
Group, as well as a significant milestone in terms of strengthening
the company’s position in foreign markets. With the signing of the
memorandum, ENNA has become the first Croatian company and one of
the first European companies to obtain a cooperation framework that
could lead to potential investments in renewable energy projects in
Azerbaijan. These investments will be subject to additional
assessments and relevant approvals,” the company’s statement
said.
Javid Abdullayev, Director of AREA, stated that the MoU signed
with the Croatian company envisages conducting analyses of possible
cooperation in the field of renewable energy and identifying
possible project directions.
“This is a fairly reputable Croatian company with a wide
portfolio. It operates not only in the field of renewable energy.
Therefore, we believe that both the diversification of our areas of
renewable energy sources in Azerbaijan and the diversification of
the geography of the companies we work with will support the
creation of serious competition and, ultimately, the achievement of
the most favorable commercial conditions for our country,” he
explained.
Boštjan Napast, CEO of ENNA Group, also commented on the MoU
signing.
“This Memorandum of Understanding marks a major step forward for
ENNA Group in international markets and confirms our ambition to
contribute to the energy transition through long-term, high-quality
partnerships. Opportunities to participate in renewable energy
projects in Azerbaijan are rare and strategically important. We are
proud to be recognized as a credible partner and look forward to
working with the Ministry of Energy to assess the potential for
sustainable and commercially sound projects,” he noted.
On March 3 of this year, a Memorandum of Understanding on
cooperation in the field of renewable energy was signed between the
AREA and Energia Naturalis d.o.o. The memorandum was signed within
the framework of the 12th meeting of the Southern Gas Corridor
Ministerial Advisory Council and the 4th meeting of the Green
Energy Advisory Council Ministerial in Baku.
The Memorandum of Understanding was signed by Javid Abdullayev
and Boštjan Napast.
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