BAKU, Azerbaijan, September 25. Azerbaijan is actively exploring opportunities for cooperation in such areas as low-carbon technologies, waste-to-energy production, green hydrogen, biofuels, as well as reduction of methane emissions, Azerbaijani Economy Minister Mikayil Jabbarov said at an international forum on carbon pricing taking place in Baku, Trend reports.
“Speaking about our agenda, it should be noted that transition to alternative energy sources is one of our priorities. Azerbaijan is a country with high potential in the field of renewable energy. We have attracted foreign investments in this sector and are already building solar and wind power plants. Azerbaijan is actively exploring cooperation in areas such as low-carbon technologies, energy production from waste, green hydrogen, biofuels, and reducing methane emissions. We are working closely with investors to produce renewable energy,” he noted.
The minister reminded that projects on the production of more than 8 GW of green energy through foreign investments will be implemented in Azerbaijan until 2030 on land and sea.
“These projects are aimed at meeting domestic demand, decarbonizing the economy, and increasing export potential,” he stressed.
He further mentioned that today Azerbaijan occupies one of the key places in the global transition to a green economy, which is a priority for the whole world.
“Our goals in the field of combating climate change are closely linked to international challenges, which has already led to the formation of certain experiences in this field. The implementation of green projects together with major energy companies is aimed at transforming our country into a clean energy state and stimulating investments that support the ecological balance. We have made important commitments in this direction,” he said.
The minister also noted that the socio-economic development strategy for 2022-2026 sets targets for the next medium-term period, including increasing the share of renewable energy in the total installed capacity of electricity generation and expanding the coverage of waste treatment processes.
“For instance, we can cite SOCAR's voluntary commitment to bring methane emissions to zero within COP28,” Jabbarov added.