BAKU, Azerbaijan, October 29. The region's largest solar power plant "Garadagh" will be put into operation in Azerbaijan in the coming days, Trend reports.
The data of the Ministry of Energy of Azerbaijan shows that a regular meeting of the Commission "On Measures for the Implementation of Pilot Projects in the Field of Renewable Energy Sources" established by the Decree of the President of the Republic of Azerbaijan dated December 5, 2019 was held.
The meeting chaired by Azerbaijani Energy Minister Parviz Shahbazov included reports on the work done for the current period.
In addition, Azerbaijan has inked three pivotal investment agreements with the UAE-based company Masdar, facilitating the development of green energy projects with a cumulative capacity of 1000 MW.
These contracts encompass the establishment of a 445 MW solar power plant in Bilasuvar region, a 315 MW solar power plant in Banke settlement of Neftchala region, and 240 MW wind power plant projects in Absheron-Garadagh region.
Moreover, the European Bank for Reconstruction and Development (EBRD) is financing the construction of a 240 MW wind power plant in eastern Azerbaijan.
This project is expected to be the first utility-scale wind power project in the country and the largest in the Caucasus region.
Furthermore, "Azercosmos" has started cooperation with the State Agency for Renewable Energy Sources under the Azerbaijani Energy Ministry.
The parties inked a collaboration agreement, according to Azercosmos, under which satellite images will be utilized in initiatives to assess and exploit renewable energy sources in Azerbaijan.
In addition, the parties will create a training program for professionals who will be able to share their knowledge and abilities in assessing renewable energy sources.
Parviz Shahbazov, Azerbaijan's Energy Minister said that the Trans Adriatic Pipeline (TAP) can deliver Azerbaijani gas to over 10 European countries.
Shahbazov underlined the importance of the REPowerEU plan and the updated strategic partnership agreement between the EU and Azerbaijan in the energy sector, which underscores the reinforcement of TAP's role.
The Spanish company Enagas, which is one of the shareholders of TAP, said that eight billion cubic meters of gas have been transported through the Trans-Adriatic Pipeline (TAP) since the beginning of 2023.
In addition, the gas transportation via the South Caucasus Pipeline (SCP), or Baku-Tbilisi-Erzurum, exceeded 16.4 billion cubic meters (bcm) from January through September 2023, compared to the same period in 2022 (15.2 bcm).
Kanan Mirzayev, Acting Head of SOCAR Türkiye's Refinery and Petrochemical Business Unit, and Acting General Manager of Petkim noted that the capacity of the STAR Refinery, operated by the Azerbaijani state oil company SOCAR in Türkiye, in 2024 will increase to 13 million tons.
Azerbaijan is among the countries with the most affordable gasoline prices as of October 23, 2023.
The data of the Global Petrol Prices portal shows that the cost of gasoline in Azerbaijan is $0.588 per liter.
In general, the volume of Azerbaijani oil exports to Italy since the beginning of the year has been revealed. Azerbaijan exported over 7.9 million tons of oil and oil products to Italy from January through September 2023, which is 40.17 percent of total Azerbaijani exports of raw materials.
