Shanghai-based renewable energy company eyes to expand its business in Azerbaijan
By Trend
China’s Universal Energy company is planning plans to expand its business in Azerbaijan to further support the transition of energy structure, the company official told Trend.
Currently Universal Energy has six new energy projects in Kazakhstan including three photovoltaic (PV) power projects in operation and three wind power plants which are under construction.
"Aiming to become a leading market player in countries along the Belt and Road Initiative, Universal Energy has been active in Kazakhstan market- the buckle of the Initiative, for five years. The company is now one of the largest investors for renewable energy projects in Kazakhstan," the company said.
The company official noted that with a total capacity of 380 MW, all six projects had been included in the Main list of China-Kazakhstan Industrial and Investment Projects.
"After all these projects’ completion, the annual power generation is expected to reach 980 million kWh, which can meet the electricity demand of about 600,000 local households," the company official said.
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