BAKU, Azerbaijan, November 12. Azerbaijan, Uzbekistan, and Kazakhstan are set to sign an intergovernmental agreement tomorrow to implement the "Green Corridor" project, Azerbaijan’s Deputy Minister of Energy, Orkhan Zeynalov said at a panel discussion titled "Powering the future: The Mediterranean’s initiative towards 1TW renewable energy by 2030," Trend reports.
"I believe Central Asia has tremendous potential. We are also discussing the need to connect these corridors while aligning them to a single framework in terms of feasibility studies and the development phases. This is all part of harmonizing the development of green corridors globally," he said.
Zeynalov also spoke about Azerbaijan’s renewable energy goals, stating that the target of achieving 1 terawatt of renewable energy by 2030 is ambitious but achievable.
"From Azerbaijan’s national strategy perspective, we are focused on how to achieve the energy transition. At the same time, we are focused on how COP29 will implement global climate commitments," he added.
The deputy minister stated that Azerbaijan is targeting a 30 percent share of renewable energy by 2030. With the current pace of progress, the transition to renewable sources is accelerating, and the country is on track to reach this goal well ahead of schedule.
"We are also planning $2.5 billion in investments in renewable energy projects, such as solar and wind. Just this morning, together with bp, we laid the foundation for a 240-megawatt solar project in Jabrayil, which will be used to decarbonize the world’s largest oil and gas terminal, Sangachal. Renewable energy is already contributing to the decarbonization of the energy sector, which is a positive step forward," Zeynalov added.
To note, the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will run until November 22, opened on November 11 at the Baku Olympic Stadium.
The UN Framework Convention on Climate Change is an agreement signed at the Rio Earth Summit in June 1992 to prevent dangerous human interference in the climate system. The acronym COP (Conference of Parties) stands for “Conference of Parties” and is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.
A total of 198 countries are parties to the Convention. Unless otherwise decided by the parties, COP is held annually. The first COP event was held in March 1995 in Berlin, and its secretariat is located in Bonn.
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