Azerbaijan Accelerates Renewable Energy Expansion Plans
Date
7/26/2024 2:21:58 AM
(MENAFN- AzerNews)
Nazrin Abdul
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Azerbaijan is accelerating efforts to increase the share of
renewable energy sources (RES) in the country's overall energy
balance.
This was stated by Deputy Minister of Energy Kamal Abbasov
during his speech at the 8th meeting of the intergovernmental
commission on trade and economic cooperation between Azerbaijan and
Serbia, Azernews reports.
According to him, Azerbaijan aims to achieve the goal of having
a 30 percent share of renewable energy sources in the country's
installed energy capacity by 2030 ahead of schedule.
"At the current pace of energy transition in the country, the
share of renewable energy sources could reach 32.6% by 2027 and
34.6% by 2030," Abbasov said.
The government's calculations are based on the portfolio of
ongoing renewable energy projects with international energy
companies.
This project portfolio already encompasses a total capacity of
10 GW.
"The energy obtained from renewable energy sources is intended
for domestic consumption, decarbonization of the economy, and
export," Abbasov noted.
Currently, renewable energy sources account for 17-18 percent of
the country's energy balance.
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