BAKU, Azerbaijan, June 21. Azerbaijan is expecting an increase in the number of auctions for renewable energy projects, Deputy Energy Minister of Azerbaijan Elnur Soltanov said at German-Azerbaijani Sustainable Development Forum on the topic ‘Renewable Energy in Azerbaijan’, on June 21, Trend reports.
"We are constantly looking for potential investors for new renewable energy projects. We expect an increase in the number of auctions in the sphere of solar photovoltaic and wind energy in near future," Soltanov said.
According to him, Azerbaijan also has a huge potential for the development of offshore wind energy, Caspian Sea's potential for which is estimated at 157 gigawatts.
"Azerbaijan should increase the capacity of renewable energy sources by 30 percent by 2030, however this figure, which we are striving for, will be further increased in coming years," Soltanov added.