Davos mulls high potential of Azerbaijan's renewable energy sources

By Azernews

Azerbaijan's high potential for renewable energy sources was discussed at the World Economic Forum in Davos, Azernews reports with reference to Economy Minister Mikayil Jabbarov's official Twitter page.

"The working lunch on 'Oil and Gas' was held within the framework of the Davos World Economic Forum (@wef). During the dinner we talked about the possibility of using renewable energy in all sectors of the economy, based on principles of green energy space, the impact of regional processes on energy markets, the importance of the transition to a safe, as well as the sustainable energy system and the high potential of renewable energy sources in Azerbaijan," the minister wrote.

By the way, one of the president's strategic goals for the country's energy development is the use of alternative energy sources. Renewable energy currently accounts for 17 percent of total energy production in the country. The goal is to raise the percentage to 30 percent by 2030.

The potential of renewable energy sources in Azerbaijan is 27,000 MW, including 3,000 MW in wind energy, 23,000 MW in solar energy, 380 MW in biomass energy, and 520 MW in the energy of mountain rivers.

Azerbaijan has ratified the Paris Agreement on Climate Change and committed to achieving a quantitative target of a 35-percent reduction in GHG emissions by 2030 compared to 1990.