At COP29 on November 20, Azerbaijan Renewable Energy Agency under the Ministry of Energy of the Republic of Azerbaijan (AREA), Clean Energy Invest LLC, and Baltech Green LLC signed a memorandum of understanding (MOU) to develop the Kalbajar Wind Power Plant, located at a unique altitude of 3,100 meters. The Clean Energy Invest LLC and Baltech Green LLC agreed to establish a joint venture for the project, with plans to begin measurement campaigns and project preparations in the near future.
The wind power plant is expected to begin commercial operations by early 2028, with an initial installed capacity of 200-240 MW. Given its unique location at high altitudes, the project has the potential for future expansion, with a total capacity of up to 600 MW. The investment aims to boost national renewable energy capabilities, particularly in wind power generation, and contribute to the country’s energy transition.
“This is a proud moment for Azerbaijan as local private investors demonstrate their readiness to contribute to the country's energy transition,” said Javid Abdullayev, Director of AREA.
Volkan Gerdan, a board member of Baltech Green LLC, highlighted that Baltech Group has a successful track record of developing and operating renewable energy projects in Türkiye. He emphasized that the Kalbajar wind project in the liberated territories demonstrates the company’s commitment to Azerbaijan’s sustainable development.
Clean Energy Invest LLC, a subsidiary of the Azerbaijan Green Energy Company (AGEC), is focused on renewable energy investments. CEO of Clean Energy Invest LLC Hayala Naghiyeva expressed the company’s enthusiasm for the collaboration, noting that the project aligns with their shared vision of advancing clean energy and building economic and environmental resilience in the region.
Mir Jamal Pashayev, Chairman of the Supervisory Board of Clean Energy Invest LLC and CEO of AGEC, stated that the Kalbajar project marks a key milestone in Azerbaijan’s efforts toward decarbonization and sustainable growth. Meanwhile, Bulent Karani, Chairman of the Board of Baltech Green LLC, reaffirmed the collective commitment of all parties to advancing renewable energy initiatives and supporting global climate goals.
