Cooperation on the potential development of renewable energy projects

Baku / Zagreb, 3 March 2026 – The Azerbaijan Renewable Energy Agency (AREA), has signed a Memorandum of Understanding (MoU) with ENNA Group, a leading Croatian company operating in the energy and logistics sectors establishing a framework for cooperation on the potential development of renewable energy projects in Azerbaijan.

The signing took place on the margins of the Twelfth Ministerial Meeting of the Southern Gas Corridor Advisory Council and the Fourth Ministerial Meeting of the Green Energy Advisory Council held in Baku. The signing ceremony was attended by representatives of the Ministry of Energy of the Republic of Azerbaijan and the Ministry of Economy of the Republic of Croatia.

Under the MoU, AREA and ENNA will cooperate on assessing renewable energy opportunities in Azerbaijan and identifying the key conditions for economically viable investment, with a focus on renewable energy projects, particularly solar and wind. The cooperation framework provides for the establishment of a joint Steering Committee, composed of representatives of AREA, relevant Azerbaijani energy institutions and ENNA, which will direct and oversee activities carried out under the MoU and make decisions by mutual agreement.

This MoU represents an important step in the international expansion of ENNA Group’s Energy division and a significant milestone in strengthening the company’s presence in foreign markets. By signing this MoU, ENNA has become the first Croatian company and one of the first European companies to secure a cooperation framework that could lead to investment in renewable energy projects in Azerbaijan, subject to further assessments and relevant approvals.

- Azerbaijan is continuing to create conditions for the development of a competitive and sustainable renewable energy sector. Azerbaijan is steadily advancing reforms and creating a transparent and investor-friendly framework to support the development of a competitive and sustainable renewable energy sector. Through strategic partnerships and knowledge exchange, we aim to unlock the country’s renewable energy potential and facilitate commercially viable, long-term investments that contribute to Azerbaijan’s green energy transition – said Javid Abdullayev, Director of the AREA.

- 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 – said Boštjan Napast, CEO of ENNA Group.

The MoU sets out a framework for cooperation over an initial period of 12 months, focused on joint assessment activities, exchange of expertise and preparation of the conditions that could support future renewable energy investments.