Azerbaijan will diversify Europe's energy supplies with green energy, Azerbaijan's Energy Minister Parviz Shahbazov said during his speech on the first day of the Baku Energy Forum held today, Report informs.
According to him, by the end of 2027, the share of renewable energy in the installed capacity of electricity will increase to 33% thanks to up to 2 GW of green power, which will be realized due to the investment of more than $2 billion.
The Minister of Energy said that the expected benefits of these projects are the production of 5.3 billion kilowatt hours of electricity, saving 1.2 billion cubic meters of gas, and the reduction of emissions up to 2.5 million tons.
“It will be marked by the regional leadership of our country in the transition to green energy based on the views and initiatives of the President of Azerbaijan Ilham Aliyev on the implementation of green energy and climate goals and the creation of synergy between traditional and renewable energy.
In addition to the 1,000 MW solar-wind power plants with an investment value of nearly $ 1 billion, two more solar plants are expected to be established with BP and Nobel Energy in East Zangezur soon.
The result of the first auction for the 100 MW Gobustan Solar Power Station is expected to be announced during the COP,” the minister said.
Shahbazov noted that, in addition to decarbonization, the approach to the development of renewable energy in the context of post-conflict construction and diversification of energy supplies brings Azerbaijan to the forefront today with the initiatives of green energy zones and green energy corridors.
In his speech, the minister also talked about the steps taken regarding the creation of Caspian-Black Sea-Europe, Azerbaijan-Türkiye-Europe and Central Asia-Azerbaijan-Europe green energy corridors.