Azerbaijan is diversifying its energy sector by increasingly relying on renewable sources, Deputy Energy Minister Orkhan Zeynalov stated, Report informs.
Zeynalov made the remark at the Central Asia Regional Seminar, held as a part of COP29.
He highlighted Azerbaijan plans to take advantage of energy transition opportunities.
"We initially aimed to increase the share of renewable energy sources in the country's power system to 30% by 2030. However, by maintaining the current transition pace, we will reach 35% by 2030 and 40% by 2035," stated Zeynalov.
“Approximately $2.5 billion is expected to be invested within the framework of renewable energy projects. We plan to achieve the target of 7 gigawatts of green energy production by 2030 and export 5 gigawatts of it through three green interconnectors: the Caspian Sea-Black Sea-Europe, Azerbaijan-Central Asia-Europe, and Azerbaijan-Türkiye-Europe routes. We have also launched green energy zones in Karabakh, Eastern Zangazur, and Nakhchivan. This will serve as a foundation for the transition of national energy to net zero.”