On March 25, Azerbaijani President Ilham Aliyev attended the inauguration of the “Absheron” Battery Energy Storage Center of the “AzerEnergy” Open Joint-Stock Company.

The largest battery energy storage system (BESS) facilities in the CIS region are set to be commissioned in Azerbaijan’s Absheron and Agdash districts in the coming months.

The international rating agency S&P Global Ratings has revealed that AzerEnergy's annual capital expenditure in 2024-2025 is expected to be around 340-350 million manats ($200-210 million), compared to 696 million manats (over $409 million) in 2023.

A market operator will be established in Azerbaijan as an individual legal entity under the transmission system operator,News.az reports citing the “Action plan for the phased introduction of electricity market elements”, approved by the Azerbaijani Cabinet of Ministers.