Azerbaijan is laser-focused on increasing the share of electricity production from renewable energy sources and exporting renewable electricity to the European Union (EU), Rana Humbatova, Deputy Director of the State Agency for Renewable Energy Sources under the Ministry of Energy, said speaking at the 15th Session of the Assembly of the International Renewable Energy Agency (IRENA) held in Abu Dhabi, United Arab Emirates, from January 11-13.
Report informs that during the High-Level Dialogue on "Accelerating Renewable Energy Partnership in Central Asia" (APRECA), discussions centered on supporting economic development, assessing the region's energy sector diversification needs, and leveraging joint efforts and resources to create the necessary infrastructure for the energy transition.
Humbatova shared Azerbaijan's progress in supporting the "UAE Consensus: Tripling renewable energy potential and doubling energy efficiency by 2030" and emphasized the importance of strengthening joint efforts across the region. She highlighted key challenges, such as the integration of renewables into the grid and attracting investments, and underscored the significance of various international cooperation platforms established by IRENA.
She said Azerbaijan aims to increase the share of renewable energy in installed capacity to 30% by 2030 and plans to achieve this target by 2027, maintaining the current pace of energy transition.
The country is developing the 3,900 MW Green Energy Corridor (Caspian-Black Sea-Europe) project alongside Georgia, Romania, and Hungary. Additionally, an intergovernmental agreement on "Strategic Partnership in the Development and Transmission of Green Energy between Azerbaijan, Kazakhstan, and Uzbekistan" was signed at COP29, envisioning the joint export of green electricity to Europe via the Caspian Sea.
Azerbaijan's effective cooperation with IRENA was highlighted, including preparations for COP29 and events organized jointly within COP29. The country's National Strategic Vision Document on Hydrogen was presented at the side event "Creating a Clean Hydrogen Economy and Developing New Supply Chains," co-hosted by IRENA, the Hydrogen Council, and the Ministry of Energy.
Three significant energy initiatives put forward by Azerbaijan as the COP29 Presidency were introduced: COP29 Global Energy Storage and Networks, Green Energy Zones and Corridors, and the COP29 Hydrogen Declaration.
The IRENA Assembly, with its theme "Accelerating the transition to renewable energy sources - Moving forward," brings together ministers, high-level representatives from IRENA's 170 member states, academia, financial institutions, executive directors, and young professionals to strengthen cooperation on the energy transition.