Azerbaijan talks ongoing initiatives to launch green energy supply to Europe

Economy Materials 25 February 2023 15:32 (UTC +04:00)
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, February 25. Azerbaijan is striving to expand the geography of the supply of green electricity, Javid Abdullayev, Head of the State Agency for Renewable Energy Sources under the Ministry of Energy, said in an interview with local TV, Trend reports.

According to Abdullayev, Azerbaijan has an approximate potential of about 200 GW of green energy production.

"A number of contracts have already been signed with foreign partners for the production of about 25 GW. A huge part of this capacity falls on offshore wind energy. Agreements with companies such as Masdar, ACWA Power, bp, as well as the recent agreement with the Australian Fortescue Future Industries for 12 GW are key in the framework of green energy supply to the European market," he said.

Abdullayev stressed that Azerbaijan intends to increase the share of renewable energy sources in the total electricity production to 30 percent by 2030.

"To date, the installed capacity is not too high and accounts for 17 percent. I think that very soon we will be able to move much forward. At the same time, of course, a lot depends on the needs of our customers," the head of the state agency explained.

He noted that the supply agreement itself defines several tools for its implementation. At the same time, the first meeting of the steering committee has already been held, which also provided for the creation of a working group for more successful and rapid coordination within the project.

The head of the state agency stressed that this agreement provides for a wide range of cooperation with partners, including issues related to the supply of hydrogen and other products.

"As President Ilham Aliyev noted, Azerbaijan will not limit the supply of green electricity only to Romania and Hungary. We will work out further mechanisms. Of course, a lot depends on our partners and their demand. If oil and gas can be stored after production, here we face a number of technical problems in the production of electricity. Therefore, the contractual framework and the work of our partners should be more flexible," he said.

Meanwhile, on December 17, 2022, Azerbaijan, Georgia, Hungary and Romania signed an agreement on the construction of an electric cable from the Black Sea coast of Georgia to the Black Sea coast of Romania. As part of this project, it is planned to build a cable that will allow transporting up to 4 GW of green energy from Azerbaijan.