BAKU, Azerbaijan, October 13. The implementation of this first-of-its-kind offshore wind roadmap can turn Azerbaijan into a renewable energy powerhouse, supporting the country’s energy resource diversification strategy, Aliya Azimova, IFC’s Country Representative in Azerbaijan, told Trend.
According to Azimova, the recent global acceleration toward renewables may challenge the historically dominant role of hydrocarbons as the main energy source.
“At a time like this, diversifying its energy sources will help Azerbaijan create jobs and stimulate economic growth. For that, the country needs large amounts of investments and Azerbaijan is on the path of attracting private sector participation. This will help boost funding in priority areas - such as renewables -while ensuring fiscal sustainability,” she said.
Meanwhile, the new roadmap sets out a range of recommendations. These include setting targets for 2030 and 2036, developing and competitively bidding a 200-megawatt demonstration project followed by larger projects, further exploring potential offshore wind development zones, modernizing infrastructure, adopting international best practices to attract financing, and educating all government agencies and the future workforce to build the knowledge and capacity needed to deliver a pipeline of offshore wind projects.
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