The State Agency for Alternative and Renewable Energy Sources (SAARES ) is in talks with the US Agency for International Development (USAID).

Soon the organization will sign a cooperation agreement.

Director of SAARES Akim Badalov said in his speech at the ongoing conference "Energy, renewable sources and stability" in Baku today.

A.Badalov also informed the conference participants about the work carried out in Azerbaijan in the field of alternative and renewable energy sources.

It should be noted that the sponsors of the event are the US Embassy in Azerbaijan, BP, AGT, SOCAR, Pasha Bank, PWC Azerbaijan and Fairmont Baku hotel. The conference was organized by the U.S.- Educated Azerbaijan Alumni Association, ADA University and the American Chamber of Commerce (AmCham).

The head of the AmCham Natavan Mammadova and rector of the University of ADA Hafiz Pashayev addressed at the event.

Pasha Bank Chairman Taleh Kazimov in his speech stressed the bank's interest in the development of alternative energy industry in Azerbaijan: "At present, 92% of business of Pasha Bank is in non-oil sector. We are ready to support the non-oil sector of the country. In particular, we are interested in the development of innovative industries.