BAKU, Azerbaijan, June 7. Azerbaijan has excellent solar and wind resources and significant prospects for biomass, geothermal and hydropower, Trend reports with reference to the International Energy Agency (IEA).
“While interest in using renewable energy and energy efficiency has begun to increase only in recent years, the Azerbaijani government recognises that renewable energy in power generation can help diversify energy sources and divert natural gas from power generation for potentially more profitable exports and use in petrochemicals, and also help meet climate policy objectives.
Practical deployment has been limited, however, compared with the scale of the country’s available resources and long-term ambitions. That focus is changing, however. The government is now drafting legislation to promote renewable energy and is aiming for renewable energy to provide 30 percent of electricity generating capacity by 2030, roughly twice the current share,” reads the latest IEA report.
Major contracts for building wind and solar power capacity were signed in early 2020, and construction is currently underway.
IEA noted that renewable energy, together with energy efficiency, also offers the most promising low-carbon solution to meeting Azerbaijan’s climate targets.
“At COP26, Azerbaijan committed to reducing its GHG emissions by 40 percent by 2050, measured from the 1990 base year set in its NDC under the Paris Agreement, roughly equivalent to a 20 percent reduction from the current emissions. The government is also working to meet the United Nations’ (UN’s) 2030 Sustainable Development Goals (SDGs), among which SDG 7 (access to affordable, reliable, sustainable and modern energy resources) is a priority for Azerbaijan,” the report says.
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