BAKU, Azerbaijan, March 28. Azerbaijan is going to use vast potential of renewables, to deliver green energy to Europe, Azerbaijan’s energy minister Parviz Shahbazov, said, addressing the 9th Berlin Energy Transition Dialogue, Trend reports.
He reminded that Azerbaijan, Georgia, Romania, Hungary signed in December last year in Bucharest an agreement on the production and transmission of green energy.
“So, we are going to use the vast potential of green energy. First of all, we have 15 gigawatts of discovered offshore wind potential in the Caspian Sea to deliver it to the European Union in form of electricity through high voltage lines and in a form of green gases like hydrogen, ammonia and so on. And four countries, together with the European Commission, and private companies are working together,” said Shahbazov.
The minister pointed out that Azerbaijan’s strategy has been not to use state budget resources to develop the renewable source of energy in the country, but attract the foreign private companies.
“In recent four years, we developed several new legislation acts. And now through doing that, we created conducive conditions for private investors. And as a result of that, within the last two years, we have signed implementation agreements with several companies for production of 25 gigawatts of renewable energy,” he said.