“Green energy” projects realized in Azerbaijan (ANALYSIS)

Azerbaijan has favorable conditions for the development of renewable energy, including abundant sunlight and windy areas, making solar and wind power potential sources for clean energy.

The main target indicator for the "Green energy space" goal reflected in the "Socio-economic development strategy of the Republic of Azerbaijan in 2022-2026" is the increase of the share of renewable energy sources in the installed capacity of electricity production from 17.3 percent in 2021, 24 percent by 2026, and to 30 percent by 2030.

In order to achieve this goal, a “green energy zone” is being created in the liberated territories of Azerbaijan, and to increase the use of renewable energy sources corporative relations established with companies such as BP, Masdar, ACWA Power, China Gezhouba Group Overseas Investment, Total Energies, Nobel Energy Management, etc.

The regional head for climate strategy and implementation of the European Bank for Reconstruction and Development (EBRD), Konstantin Kintsurashvili, at the 2nd Baku Forum on Sustainable Development held on November 15-16, said that “green energy” projects implemented in Azerbaijan will become benchmarks for the region.

“Azerbaijan occupies an important position in the South Caucasus. Currently, Azerbaijan has begun to implement several projects in the field of “green energy” and is successfully realizing them. They, in turn, can serve as a benchmark for other projects in the region,” said Kintsurashvili.

Notable, currently the EBRD has financed the construction of the 240-megawatt "Khizi-Absheron" wind power plant in the east of Azerbaijan. A syndicated loan in the amount of 197.1 million US dollars was allocated to the Saudi Arabian "ACWA Power" company for the implementation of this project. The 240 MW renewable power plant will generate up to 893 gigawatt hours of clean electricity per year once commissioned. More than 400,000 tons of carbon dioxide emissions are expected to be reduced each year.

Azerbaijan has engaged in international partnerships and collaborations to benefit from the expertise and support of other countries and organizations in developing its renewable energy sector.

On November 15, a tripartite meeting was held with the participation of the ministers of economy and energy of Azerbaijan, Uzbekistan, and Kazakhstan regarding the discussion of the prospects of the export of electricity from the territory of Azerbaijan to Europe from Central Asian countries. Following the discussion, Azerbaijan, Kazakhstan, and Uzbekistan have agreed on the preparation of technical conditions and the establishment of a joint venture for the export of “green energy” to Europe.

Implementation of “green energy” projects has political, economic, social, and environmental benefits for Azerbaijan. Azerbaijan has taken measures to create the "Caspian-European Green Energy Corridor" and aims to export "green energy" in the near future. This will have both political and economic benefits for the country.

"Garadagh" Solar Power Station was built at the expense of foreign investment worth 262 million US dollars. In other words, foreign investment came to the country for the construction of this station and it was possible to create new jobs and produce 500 million kilowatt-hours of electricity every year. This is an indicator of the economic and social benefits of the mentioned project.

On the other hand, this station will save 110 million cubic meters of natural gas and reduce carbon emissions into the atmosphere by 200,000 tons every year. Apparently, this also shows the environmental benefits of the construction of the "Garadagh" Solar Power Station and will contribute to the timely implementation of the country's commitment to reduce greenhouse gas emissions by 40 percent.

Analytic group of News.az

The article focuses on the theme of "Ecology and environmental protection in Azerbaijan"

The article was published with the support of the Media Development Agency of the Republic of Azerbaijan (MEDIA)

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