In a significant move towards a greener future, Azerbaijan has designated a vast area spanning 4,500 hectares as a renewable energy zone, Fagan Abdurahmanov, head of the Department for the Development of Renewable Energy Zones at the State Agency for Renewable Energy Sources (AREA), said during the Investment Forum on Energy Transition in Central Asia, held as part of COP29.
According to Report, Abdurahmanov said Azerbaijan has set an ambitious target of achieving a 30% share of renewable energy in its total energy balance by 2030.
He acknowledged that while the transition to clean energy is challenging, it is crucial for attaining long-term sustainability and energy security.
Abdurahmanov said the country plans to invest a staggering $2.8 billion in the renewable energy sector by 2027. This investment will facilitate the construction and integration of eight large-scale solar and wind power plants into the national energy system.
These projects are expected to generate approximately 2 GW of renewable energy capacity.
Abdurahmanov emphasized that the 2 GW figure is not arbitrary but rather a calculated estimate based on assessments conducted by international companies. It represents the amount of renewable energy that Azerbaijan's energy system can absorb by 2030, considering necessary improvements and modernization.