Azerbaijan’s renewable energy potential exceeds installed capacity fourfold

Oil&Gas Materials 18 October 2021 17:34 (UTC +04:00)
Azerbaijan’s renewable energy potential exceeds installed capacity fourfold

BAKU, Azerbaijan, Oct.18

By Leman Zeynalova – Trend:

Azerbaijan’s renewable energy potential exceeds its installed capacity by four times, Head of Azerbaijan Renewable Energy Agency under the Ministry of Energy Tabriz Ammayev told Trend.

“Azerbaijan’s installed capacity for electricity production is 7.5 gigawatts, while the country’s cost-effective renewable energy potential is around 27 gigawatts. The major part of this volume, 23 gigawatts accounts for solar energy, while onshore wind energy potential stands at about 3 gigawatts. Azerbaijan also has immense potential of offshore wind energy both in the shallow part and deepwater, which is estimated at 157 gigawatts, 20 times more than the installed capacity. It is planned to use this potential in the medium and long term after conducting economic, technical and other assessments,” he explained.

Ammayev went on to add that aside from being environmentally friendly, renewable energy sources allow to save gas used for electricity generation and to use the free volumes of gas in the domestic market or for exporting.

The projects to be implemented with ACWA Power and Masdar companies will bring around $500 million worth investments to Azerbaijan, he said.

“It is planned to generate 1.5 kilowatt-hours of electricity under these projects, which will allow to save around 330 million cubic meters of gas to be used for producing this volume of electricity. Development of renewable energy can pave way for opening new jobs with participation of the private sector and create related industrial and service sectors,” added Ammayev.


Follow the author on Twitter: @Lyaman_Zeyn