BAKU, Azerbaijan, July 12
By Fatima Zulfigar - Trend:
The Ministry of Energy of Azerbaijan continues to work on the development of projects in the field of marine wind energy, Jahid Mikayilov, the ministry's spokesperson, told Trend on July 12.
According to Mikayilov, at this moment a road map is being prepared for the use of marine wind energy.
"At present, researches are underway in the Azerbaijani part of the Caspian Sea. A preliminary assessment has been already conducted within the framework of ESMAP (Energy Sector Management Assistance Program). The potential wind power of the Caspian Sea was estimated at about 157 GW,” he noted.
The spokesperson stated that it’s difficult to name the specific deadline for the implementation of the project due to the fact that acquisition of marine wind energy is a complex process.
In 2021, the ministry and International Finance Corporation (a member of the World Bank Group) signed a Memorandum of Understanding on cooperation in the use of marine wind energy with the goal of developing renewable energy in Azerbaijan.
According to the memorandum, at the first stage the cooperation with the IFC will include an assessment of the potential of marine wind energy in Azerbaijan and the development of the ‘road map’, and at the next stage - the organization of tenders for the implementation of associate projects in the sea, definition of partnership with private sector, implementation of auxiliary investments.