BAKU, Azerbaijan, July 25. Azerbaijan is speeding up work to increase the share of renewable energy sources in the energy balance, the country's Deputy Energy Minister Kamal Abbasov said, Trend reports.
He made the remark at the eighth session of the Intergovernmental Commission (IGC) on trade and economic cooperation between Azerbaijan and Serbia in Baku today.
According to the official, the goal set by Azerbaijan to achieve a 30 percent share of renewable energy sources in the installed capacity of the country’s energy system by 2030 can be achieved earlier than this date.
“The share of renewable energy sources at the current pace of energy transition in the country can reach 32.6 percent by 2027 and 34.6 percent by 2030,” Abbasov noted.
The government's calculations are based on its ongoing portfolio of renewable energy projects with international energy companies.
This portfolio of projects already covers a total capacity of 10 GW.
“Energy from renewable energy sources is intended for domestic consumption, decarbonization of the economy, and export,” the deputy minister added.
Currently, renewable energy sources account for 17–18 percent of the country's energy balance.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel