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Energy Minister - Azerbaijan plans to create about 19 GW of power with international energy companies

05 December 2023 [17:15] - TODAY.AZ

By Asim Aliyev

Dubai held an event called Opportunities for Investment in Renewable energy in Azerbaijan within the framework of COP 28, Azernews reports.

Azerbaijani Energy Minister Parviz Shahbazov made a speech at the event and noted that cooperation with international energy companies plays an exceptional role in creating stable, secure energy forces and also makes an important contribution to building a Green Future at the national level. Azerbaijan has already started cooperation in the field of green energy with seven international companies.

It was declared that becoming a green-growth country and achieving a clean environment by 2030 has been identified as one of the national priorities for socio-economic development. Such strategies provide an ideal foundation for a successful energy transformation in the region.

The state policy of Azerbaijani President Ilham Aliyev, gives priority to the development of renewable energy through foreign investment, turning the liberated territories from a gray zone into a green energy zone, as well as the Caspian Sea into a center of green energy production and export. "

"In October of this year, together with Masdar Company, we launched the largest solar power plant on the basis of foreign investment both in the CIS and the Caspian Sea region. By 2027, in addition to this 230 MW plant, eight solar and wind power plants with a capacity of more than 1.6 GW by Masdar, ACWA Power, bp, China Gezhouba, Nobel Energy and Baltech will be built. By 2030, more than 8 GW of "green energy" projects on land and sea for domestic consumption, decarbonization of the economy, and export will be realized at the expense of foreign investment. Also, in 2031-2037, for the purpose of production and export of "green energy", hydrogen, "green ammonia", we plan to create about 19 GW of power with international energy companies," added Minister.

The minister also mentioned intensive work on the export of 4 GW of "green energy" through the "Caspian-Black Sea-Europe" Union Green Energy Corridor and more than 1 GW through the Azerbaijan-Turkiye-Europe route. For companies, establishing local production of wind turbines, solar panels, creating energy storage systems, as well as strengthening the grid using advanced grid technologies for efficient energy distribution, production, storage and transportation of "green hydrogen", as well as carbon emission capture and storage, electric charging opportunities for cooperation in the fields of infrastructure were highlighted.

The event "Energy transition and net zero: Perspectives", "Development opportunities of renewable energy in Azerbaijan", "Business models based on clean energy for a net zero future of the oil and gas industry", "MASDAR's approach to the field of green energy", "For a sustainable network" wind energy and energy storage solutions", "Energy transition and decarbonization" continued with speeches by representatives of IRENA, SOCAR, "WindEurope", "Masdar", bp, "ACWA Power", "Nobel Energy".

It should be noted that 17 energy companies and organizations were represented at the event held in the Azerbaijan pavilion.

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