Azerbaijan unveils $2.7 billion green energy plan to power Europe
Azerbaijan is investing $2.7 billion in wind and solar energy as part of a sweeping plan to boost renewables to one-third of its electricity capacity by 2027 and become a major green power exporter to Europe.
Speaking at the Baku Energy Forum, Energy Minister Parviz Shahbazov said the “first full phase” of the transition will be completed within two years. This includes a 240 MW wind farm scheduled for late 2025 and three new solar parks totaling 200 MW. A 100 MW floating solar project is also in preparation, News.Az reports, citing local media.
By 2027, renewables are expected to make up 33.7% of installed capacity, with targets set at 38% by 2030 and 42.5% by 2035. Projects underway include BP’s 240 MW Shafag solar plant in Jabrayil and Nobel Energy’s 400 MW facility in Nakhchivan.
To export surplus power, Azerbaijan is partnering with Georgia, Romania, and Hungary to build a 1 GW high-voltage cable—dubbed the Caspian–Black Sea–Europe Green Energy Corridor—linking to EU grids in line with European decarbonization goals.
The green push supports Azerbaijan’s broader climate strategy, which includes cutting greenhouse gas emissions by 40% by 2050 and establishing a net-zero zone in territories regained from Armenian control. Already, 32 of 60 planned small hydro plants are operational in the Garabagh and East Zangazur regions.
Analysts see the shift as a dual win: reducing dependence on natural gas at home while reinforcing Azerbaijan’s role as a key energy supplier to Europe amid efforts to move away from Russian energy.
With another 6 GW of renewable capacity projected between 2027 and 2030, most of it for export, officials say the transition will also help free up natural gas for export, maintaining state revenues during the clean energy shift.
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