WB announces forecast on offshore wind energy for Azerbaijan by 2040

The share of offshore wind energy in the total electricity supply of Azerbaijan is predicted to be at least 7% in 2040, Report informs citing the "Offshore Wind Roadmap for Azerbaijan" prepared by the World Bank.

According to the information, the highest forecast is expected to be 37%.

By 2040, the capacity of the offshore wind farm is projected to be a minimum of 1.5 gigawatts and a maximum of 7.2 gigawatts.

During the reporting period, electricity production is expected to increase to 55 TWh in the lowest scenario and 3.9 times in the highest scenario to 215 TWh.

The development of this sector will create a total of at least 19,000 new jobs. However, according to the forecast, this figure may increase by a maximum of 3.6 times and reach 69,000 people.

By 2040, the total value of this sector will be $ 2 billion. According to the maximum forecast, this figure could reach $ 7 billion.

The increase in offshore wind power production by 2040 will prevent the release of at least 27 million tons of carbon dioxide into the air in Azerbaijan. According to the World Bank's maximum forecast, in 18 years this figure could increase 3.9 times to 107 million tons.