BAKU, Azerbaijan, October 18. The agenda for renewable energy sources has gained significant momentum under the "Green World Solidarity Year" and COP29 initiatives, Minister of Energy Parviz Shahbazov said in an article published in the "Azerbaijan" newspaper, Trend reports.
Shahbazov noted that the dynamics of electricity production and export in the coming years will be significantly based on renewable energy sources.
"To support this transition, Azerbaijan boasts rich potential and essential conditions, including state policy, a new legislative framework, and collaboration with international investors, all aimed at prioritizing the creation and transportation of green energy to global markets. The country's plans to construct and connect 8 industrial-scale solar and wind power plants, with a combined capacity of approximately 2 GW by 2027, backed by around $2.8 billion in foreign and local investments, underscore Azerbaijan's rapid advancement in green energy—an irreversible process.
The World Economic Forum's report 'Promoting Efficient Energy Transition 2023' also highlights this commitment, noting that improvements in regulatory frameworks and infrastructure have propelled Azerbaijan to 32nd place among 120 countries, with an energy transition index of 62.
In June of this year, United Arab Emirates Masdar began construction on three stations with a total investment of around $1 billion and a combined capacity of 1,000 MW: 315 MW in Azerbaijan’s Banka village of Neftchala, 445 MW in Bilasuvar, and 240 MW in Absheron.
Additionally, ACWA Power and the company signed a framework agreement for projects involving a battery energy storage system (BESS) and onshore wind power, both with capacities of 200 MW.
The Asian Development Bank (ADB)-supported "Exchange of knowledge and technical assistance in the development of a system of floating solar panels" project has launched the first floating solar power plant on Boyukshor Lake, with a capacity of 100 kW and an annual production capability of 160,000 kWh.
Azerbaijan has started its initial auction process for renewable energy sources, and it expects to announce the results for the 100 MW Gobustan HPP project during COP29. Another project advancing under COP is the Shafag solar power station, boasting a capacity of 240 MW.
Currently, significant work is underway on the construction of the Khizi-Absheron thermal power plant (TPP), which will have a capacity of 240 MW and is set to begin operations next year. The Absheron district's Perekeshkul village and the Khizi district's Sitalchay village have already received the components for forty wind turbines.
The company Nobel Energy is continuing the development of two solar power plants with a capacity of 100 MW in Azerbaijan’s Jabrayil, while China Gezhouba Group Overseas Investment is working on two solar plants with a capacity of 160 MW in the Fuzuli district.
By 2027, the share of green energy in Azerbaijan's electricity production capacity is projected to reach 33 percent," the article notes.
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