Share of renewable energy sources in Azerbaijan's electricity generation capacity to exceed 37% by 2027 - Parviz Shahbazov

The share of renewable energy sources in Azerbaijan's electricity generation capacity will exceed 37% by 2027.

This was stated by the Minister of Energy of Azerbaijan Parviz Shahbazov during an online speech at the international forum on energy transition, which is held in China under the motto "Joint promotion of energy transition for a common green future."

Speaking at the opening ceremony, the Minister emphasized that economic and technological realities are as important factors in the implementation of the energy transition as political decisions.

“The first energy crisis showed that any successful energy transition must take into account all three elements of the energy trilemma: security, affordability and sustainability. In addition to accelerating the energy transition, we need investment in the existing energy system, a clear vision and strong partnerships. We must support a fair and inclusive energy transition that can ensure environmental protection and energy security,” the minister said.

In addition, he also noted that Azerbaijan is currently cooperating with international energy companies, including China Gezhouba Group Overseas Investment, on green energy projects with a capacity of more than 28 GW.

“By 2027, it is planned to commission more than 3 GW of these green energy capacities, as a result of which the share of renewable energy sources in our country's electricity generation capacity will be more than 37%. We also have plans to implement another 5 GW projects by 2030,” Shahbazov added.

It was noted that all this will contribute to the transformation of Azerbaijan into an exporter in various directions, diversification of the energy supply of the country's European partners with green electricity and hydrogen through the "Caspian-EU Green Energy Corridor".