BAKU, Azerbaijan, November 15. Azerbaijan's presidency of COP29 is preparing a commitment focused on the development of green energy zones and corridors, said Orkhan Zeynalov, Deputy Minister of Energy of Azerbaijan, at the ministerial meeting on COP29 energy initiatives, Trend reports.
"The presidency of Azerbaijan at COP29 is preparing a commitment regarding green energy zones and corridors. This commitment includes two key components: green corridors and green energy zones. Green corridors are critical for the economically efficient transmission of green energy across borders and over long distances, which can help reduce costs and make this process more profitable.
However, we face the challenge that renewable energy sources are often located far from areas with high demand," he said.
Zeynalov also illuminated the presence of two other vital corridors.
"The first is the Central Asia-Azerbaijan corridor, for which three heads of state signed an intergovernmental agreement on its development two days ago. The technical and economic feasibility study will begin shortly. Another important corridor is the Azerbaijan-Turkey corridor, with a planned capacity of 1.5 gigawatts, for which the feasibility study has already successfully begun. By 2030, Azerbaijan plans to produce 7 gigawatts of renewable energy, with 5 gigawatts set to be exported," he added.
The Deputy Minister further underscored that this commitment is a stepping stone to advancing green energy zones by making the most of resources, reeling in investments, and nurturing sustainable development.
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