Offshore Wind Generation In Azerbaijan To Help Improve Compe...| MENAFN.COM

Thursday, 01 December 2022 11:00 GMT

Offshore Wind Generation In Azerbaijan To Help Improve Competition In Power Sector - IFC


(MENAFN- Trend News Agency)

BAKU, Azerbaijan, October 27. As Azerbaijan pursues a new private-sector-led growth model, developing offshore wind generation will help improve competition in the power sector, strengthening essential infrastructure and tackling climate change, Sean Whittaker, principal industry specialist at the International Finance Corporation (IFC), told .

'The offshore wind roadmap for Azerbaijan charts two potential pathways in the context of its future electricity needs - a low-growth and a high-growth scenario. The first will only see offshore wind supplying 7 percent of Azerbaijan's electricity needs by 2040 - not enough to decarbonize its energy system. A high-growth scenario, though, will supply 37 percent of national demand and see offshore wind play a key role in Azerbaijan's decarbonization targets,' he said.

The new roadmap sets out a range of recommendations. These include setting targets for 2030 and 2036, developing and competitively bidding a 200-megawatt demonstration project followed by larger projects, further exploring potential offshore wind development zones, modernizing infrastructure, adopting international best practices to attract financing, and educating all government agencies and future workforce to build the knowledge and capacity needed to deliver a pipeline of offshore wind projects.

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