Baku, 31 May 2023 – During the 28^th edition of the Baku Energy Week, MAIRE and the Ministry of Energy of the Republic of Azerbaijan signed a Memorandum of Understanding (MoU) to strengthen cooperation in the areas of renewable energy, energy transition and energy efficiency.

Under the terms of the MoU, the parties will establish a technical team to evaluate business opportunities in the green energy arena, namely in renewable energy, carbon footprint reduction of existing assets, carbon capture utilization and storage, as well as in the development and implementation of low-carbon, waste to energy, green hydrogen technologies and biofuels.

The MoU was signed by Mr. Elnur Soltanov, Deputy Minister of Energy of the Republic of Azerbaijan and Mr. Alessandro Bernini, MAIRE CEO, at the presence of Mr. Claudio Taffuri, Ambassador of Italy to Azerbaijan, among Azeri government and MAIRE representatives.

The signing took place during the Baku Energy Week, one of the most prestigious events in the energy sector of the Caspian region, taking place from the 31st of May till the 2nd of June.

The MoU confirms the long lasting and fruitful collaboration between Italy and Azerbaijan, where in the last 10 years MAIRE has been contributing to the development of local economy with several strategic projects and in-country value initiatives, in line with the important guidelines coming from Azeri government’s 10-year development strategy, “Azerbaijan 2030”.

Alessandro Bernini, CEO of MAIRE, commented: “This MoU represents the combined efforts and commitment of Italy and Azerbaijan to work together to industrialize energy transition. The agreement will pave the way to investment opportunities and employment in the relevant industries of cooperation in green energy, energy efficiency and low carbon technologies”.