Energy Minister: Share of renewable energy sources in investment capacity will reach 33% in Azerbaijan by 2027

Azerbaijan's Energy Minister Parviz Shahbazov has met with Secretary of the US Department of Energy Jennifer M. Granholm. The discussion primarily focused on developing bilateral energy cooperation in new areas, including the supply of natural gas and green energy, alongside the upcoming COP29.

The two exchanged views on the energy security projects implemented by Azerbaijan as a traditional energy supplier, as well as the development of the Caspian-Black Sea-Europe and Central Asia-Azerbaijan-Europe green energy corridors. The sides stressed the importance of these corridors in interregional integration, energy security, and energy transition.

Parviz Shahbazov highlighted Azerbaijan`s initiative as the host country of COP29, particularly its strides in renewable energy and advancing global climate goals. He noted that by 2027, through the integration of 2 GW of green energy production capacities into the energy grid, the share of renewable energy sources in investment capacity will surge to 33%. The minister also emphasized that the country`s socio-economic development strategy, the revitalization of liberated territories, and the transformation of Nakhchivan into a green energy hub promote the transition to green energy.

During the conversation, the sides exchanged views on energy storage systems, emission reduction strategies, and Azerbaijan's initiatives within the COP framework, and reviewed potential avenues for partnership. 

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