Azerbaijan's non-oil industry has grown 1.5 times in 2021-2025, Deputy Economy Minister Samad Bashirli said at the 9th Sustainable Development Goals (SDGs) Dialogue in Baku, Report informs.
According to him, non-oil exports have also increased: "The growth of the non-oil industry is increasing demand for energy, which makes issues such as carbon emissions and the environment even more relevant. Alongside rising energy demand, we are considering greater use of alternative and renewable energy sources. To this end, Azerbaijan has launched several mega regional projects. These are the Caspian-Black Sea-Europe and Central Asia-Azerbaijan green energy corridors. Large-scale projects related to clean energy, which constitute one of the main pillars of the SDGs, are being implemented."
Bashirli noted that the value of investments attracted and agreements signed during this period has already exceeded 8 GW.
"Azerbaijan offers an investment incentive mechanism to support green energy. The mechanism provides tax and customs incentives for renewable energy projects," the deputy minister said.
He added that the Entrepreneurship Development Fund has also begun offering green loans as part of its lending activities.
"Supporting renewable energy and the green energy transition is of particular importance in projects implemented within the framework of public-private partnerships. In addition, industrial decarbonization is linked not only to energy sources but also to the more efficient and environmentally friendly use of existing resources," Bashirli said.