RENEWABLES FOR AZERBAIJAN: 30%

AZERNEWS - 22 September 2021 - Energy Minister Parviz Shahbazov has said that Azerbaijan, which is an exporter of traditional energy resources, aims to bring the share of renewable energy in the total installed capacity of electricity to 30 percent by 2030. 

He made the remarks at the ministerial panel on “policy to support the rapid expansion of the hydrogen supply chain” at the Gastech 2021 exhibition and conference being held in Dubai, the United Arab Emirates.

The minister spoke about the measures taken in Azerbaijan in connection with the energy transit process, as well as about projects and prospects in the renewable energy field.

Shahbazov noted that the Azerbaijani president defined achieving a “clean environment” and becoming a “green growth” country by 2030 as one of the five national priorities for the country's socio-economic development.

Moreover, he noted that Azerbaijan and leading international wind and solar energy companies had recently signed investment and implementation agreements. The minister added that auctions for renewable energy are planned to be held in the near future.

Furthermore, he stressed that climate change is a reality contributing to the global energy transition. The minister highlighted the importance of expanding urgently the use of green energy to achieve a balance between energy security and environmental security.

He said that the effectiveness of the energy transition process necessitates a broad dialogue between energy producers and consumers.

As part of the event, the minister also took part in the Gastech Awards 2021, where the Trans-Adriatic Pipeline was named the winner in the Gas, LNG, or Hydrogen Project of the Year category.

He held a number of meetings as part of the visit to the UAE.

At their meeting, Shahbazov and UAE Energy and Infrastructure Minister Suhail Mohamed Al Mazrouei focused on bilateral and multilateral effective partnerships in the energy sector.

The minister assessed the implementation of the project for the construction of a solar power plant with Masdar as an indicator of confidence in Azerbaijan's business environment. He expressed the hope that other UAE companies specializing in sustainable and modern energy will invest in relevant areas in Azerbaijan.

Moreover, bilateral meetings with ACWA Power Board Chairman Muhammad Abunayan and Masdar CEO Muhammad Jamel Al Ramahi were held. The parties discussed the implementation of solar and wind power projects.

The minister also met International Energy Forum Secretary-General Joseph McMonigle and Sri Lanka’s Energy Minister Udaya Gammanpila.

Moreover, in an interview with CNN, Shahbaziv spoke about the future of the oil and gas industry, trends shaping the energy sector in the next decade, energy transition initiatives in Azerbaijan, and other topics.

It should be noted that Azerbaijan’s State Oil Company was also represented at the Gastech exhibition.

The Gastech exhibition and conference, which is the world’s foremost gas, LNG, hydrogen, and energy event, brought together experts from the global energy industry, for the first time since the COVID-19 pandemic began.

The exhibition and conference are being held on September 21-23 with the participation of more than 300 high-ranking officials, including politicians, businessmen, and experts.

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