BAKU, Azerbaijan, May 1
By Fidan Babayeva - Trend:
Azerbaijan has big potential for development of alternative energy, exceeding which in the future will make it possible to generate 62.8 billion kilowatt-hours of electricity per year, Deputy Director of the International Institute of Energy Policy and Diplomacy of the Moscow State Institute of International Relations, expert of the Center for Sustainable Development of the Moscow State Institute of International Relations Igbal Guliyev told Trend on April 30.
“The main share of the renewable energy potential in Azerbaijan accounts for solar energy - 23,040 megawatts, the potential of wind energy is estimated at 3,000 megawatts, biomass - about 380 megawatts, geothermal energy - more than 800 megawatts, small hydroelectric power plants - 520 megawatts,” the expert said.
"The stable economy, favorable investment climate and great success in the development of the business climate have attracted the world's biggest investors to Azerbaijan, ready to participate in the implementation of promising mega-projects in renewable energy,” Guliyev said.
“Twelve big energy companies, namely, BP (UK), Masdar (UAE), ACWA Power (Saudi Arabia), Total Eren (France), Equinor (Norway), Quadran International (France), Tekfen Construction (Turkey), Al Maktub (UAE), Mitsui & Co (Japan), Lucia Holding (France), ANSALDO ENERGIA (Italy) and Avelar Solar Technology (Russia) signed the memorandums of understanding and cooperation documents with Azerbaijan,” the expert said.
“The Azerbaijani Ministry of Energy actively interacts with those companies within the activity of working groups, holds meetings, exchanges the information and improves the national regulatory framework in the field of renewable energy sources," Guliyev said.
The use of renewable energy sources was determined by the president as one of the priority spheres for the development of the energy sector.
Thus, the special attention is paid to the implementation of pilot projects for the construction of a wind power plant with a capacity of 240 megawatts and a solar power plant with a capacity of 200 megawatts in accordance with the agreements signed with ACWA Power and Masdar (UAE) on January 9, 2021.
At present, Azerbaijan is taking consistent steps to develop alternative energy. For this purpose, the negotiations are underway with foreign companies and investors, including companies from China, UAE, the US and EU.
---
Follow the author on Twitter: @Fidan_Babaeva