Azerbaijan’s renewable energy potential highlighted by Economy Minister Mikayil Jabbarov

Azerbaijan is one of the countries with high potential for renewable energy sources.

This was stated by Minister of Economy Mikayil Jabbarov at the conference on "The Role of Small and Medium Business in the Green Economy," held in Baku with the support of the Ministries of Economy, Ecology and Natural Resources, and the organization of the Small and Medium Business Development Agency.

"In order to harness this potential, important projects are being implemented within the framework of public-private partnerships with leading energy companies. All of this is aimed at increasing the share of renewable energy investment in the country's total energy balance to 30% by 2030," he said.

"I should especially mention Garabagh and Eastern Zangazur, which have been declared 'green energy' zones. These areas have significant potential for green energy sources. The solar energy potential in the Fuzuli, Jabrayil, and Zangilan regions, as well as the wind and hydropower potential in the Lachin and Kalbajar regions, are highly valued. The government provides incentive mechanisms, concessions, and stimulating measures to encourage the development of businesses in Garabagh. By enhancing information and knowledge, developing relevant skills, and improving access to climate financing and technology, as well as addressing the shortage of qualified personnel and strengthening international cooperation and experience exchange, we will further enhance the role of SMEs in the green economy. In this regard, Azerbaijani SMEs will contribute to the government's economic policy by increasing the application of green technologies and improving their competitiveness and profits," the minister added.

"In general, since the green economy is a comprehensive issue, the joint efforts of all relevant government agencies, businesses, associations, academic circles, and the public are crucial. The purpose of the conference is to bring together a large number of interested parties to exchange ideas and unite our efforts," M. Jabbarov emphasized.