BAKU, Azerbaijan, Oct.13
By Leman Zeynalova – Trend:
Azerbaijan’s solar photovoltaic power capacity has increased by 12.7 percent in 2020 year-on-year, Trend reports with reference to Italian Eni company’s World Energy Review.
The country’s solar photovoltaic power capacity stood at 40 MW in 2020, as compared to 35 MW in 2019.
The compound annual growth rate from 2010 to 2020 amounted to 63.1 percent, standing at 5 MW in 2015, 25 MW in 2016, 28 MW in 2017 and 35 MW.
The world solar photovoltaic power capacity increased by 21.8 percent from 580,760 MW in 2019 to 707,495 MW in 2020.
Head of Azerbaijan Renewable Energy Agency under the Ministry of Energy Tabriz Ammayev earlier told Trend that Azerbaijan plans to create 1500 MW new generation capacity from renewables in three stages.
“Azerbaijan aims to increase the share of renewables in its electricity production to 30 percent by 2030. For this purpose, we plan to create 1,500 MW new generation capacity from renewables in three stages. Currently, we continue working on that and plan to implement renewable energy projects in the medium and long term in accordance with the annual targets,” he said.
Ammayev noted that Azerbaijan works on launching new production capacities to use the potential of renewable energy sources by attracting private and foreign investments. “The Renewable Energy Agency works with international companies and is interested in expanding their list. In particular, we are strengthening cooperation with international organizations and financial institutions in order to use international practice in the sphere of renewables and to create a favorable investment climate.”
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