Azerbaijan's Nakhchivan scans RES initiatives with overseas investors

Fuad Najafli, the Plenipotentiary Representative of the President of Azerbaijan in the Nakhchivan Autonomous Republic, met with representatives from Ihlas Holding, Özgün Construction (Türkiye), and Chinese Energy China, Azernews reports.

Najafli emphasized ANR's significant potential in the development of RES and stated that measures to build wind and solar energy capacity with the participation of foreign investors, including the aforementioned Turkish and Chinese enterprises, will soon commence.

According to Najafli, the implementation of projects in the 11 priority directions of the "State Program of Socio-Economic Development of Nakhchivan Autonomous Republic for 2023-2027," including "green energy," has already begun.

To note, the NAR has been declared a "green energy zone" by the Azerbaijani government. The potential of renewable energy sources in the ANR is estimated at 5 GW (or 5,000 MW), and the Ministry of Energy of Azerbaijan attracts foreign investors to create these capacities. For instance, TotalEnergies and Nobel Energy will build in the coming years ANR, a power plant with a total capacity of 650 MW, and Notus, a 70 MW power plant. Masdar also has a large project: a 150 MW power plant.