BAKU, Azerbaijan, September 22. Azerbaijan plans to bring more than 10 solar and wind power plants online in the next two years, with a combined capacity of over 2,000 megawatts (MW) and investments totaling $2.7 billion, said the country's Energy Minister, Parviz Shahbazov, Trend reports.
Speaking at the 1st Azerbaijan International Investment Forum in Baku, Shahbazov stated that the government aims to raise the share of renewables in national energy production to 38 percent by 2030.
"Current initiatives include partnerships with seven local and international companies to assess wind potential in the Caspian Sea, identify sites, and build offshore power plants. By 2032, Azerbaijan expects to generate over 6 gigawatts (GW) of combined onshore and offshore solar and wind energy, while gradually launching the Caspian-Black Sea-Europe green energy corridors.
Azerbaijan is moving forward with two major green energy corridor projects linking the country to Turkey, Europe, and the broader region. The Azerbaijan-Turkey-Europe and Azerbaijan-Georgia-Turkey-Bulgaria corridors aim to connect Turkey and Europe through the Nakhchivan region and Armenia, while also acting as a strategic bridge to Central Asia," he said.
The Minister emphasized that Azerbaijan’s cooperation with Kazakhstan and Uzbekistan in the green energy sector is comprehensive and designed to create a unified regional platform:
“Key steps were taken during last year’s COP29 in Baku, when Azerbaijan, Kazakhstan, and Uzbekistan signed an intergovernmental agreement on strategic collaboration in green energy. The agreements also pave the way for investment from the Kingdom of Saudi Arabia,” Shahbazov added.
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