Parviz Shahbazov: Azerbaijan to implement mega projects by 2030

Azerbaijan aims to implement ambitious mega-projects that increase renewable energy potential both nationally and internationally, in line with development priorities as a green growth country and supplier of green electricity and green gases by 2030, Azerbaijani Energy Minister Parviz Shahbazov said at the "Ministerial Dialogue: Expanding investments to triple renewable energy use and double energy efficiency" event held on the sidelines of COP29, Report informs.

According to the minister, in a few hours, the foundation of a 240 MW solar power plant will be laid in the green energy zone - East Zangazur with BP: "This station will make a significant contribution to the decarbonization of Sangachal, one of the world's largest oil and gas terminals. Overall, 2,250 MW of solar and wind power plants to be commissioned by 2030 will increase the share of renewable energy in installed capacity to 35.5%. This is not just an update of our 30% target, but also means more than a 7-fold increase in the share of solar and wind energy in our energy system."

Shahbazov stated that one of the main strategic goals during this period is to create 5 GW of additional energy capacity and ensure its supply to Europe through the Caspian-Black Sea-Europe and Azerbaijan-Türkiye-Europe corridors, as well as to establish the Azerbaijan-Central Asia green energy corridor for renewable energy flow from Kazakhstan and Uzbekistan: "When these regional green energy corridors are interconnected and directed to Europe, Azerbaijan will make a significant contribution to both its own and countries' transition to green energy from Asia to Europe and fulfillment of global commitments by 2030. Strong unity and support from every country, institution, and sector is essential to implement these initiatives and create a real turning point in energy transition. Let's fully fulfill our responsibilities, mobilize our financial and technological capabilities, and act decisively for our future. Now is the time to take steps together and turn COP29's global energy goals into reality!"