Minister Shahbazov Highlights Azerbaijan's Role In Green Energy Corridor At Wind Energy Hamburg Conference
Date
9/24/2024 10:09:20 AM
(MENAFN- AzerNews)
Akbar Novruz
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The "Caspian-Black Sea-European Green energy Corridor" is a
strategic project for the European Union, particularly as it
prepares for a 50% increase in electricity demand by 2040, with an
eye on hydrogen imports and energy security, Azerbaijan's Energy
Minister Parviz Shahbazov said, Azernews reports,
citing Ministry of Energy.
Speaking as the keynote speaker at the "Investments and Global
Cooperation" panel during the "Wind Energy Hamburg" conference,
Shahbazov emphasized Azerbaijan's commitment to renewable energy
and green development.
Shahbazov noted, "Our country has confirmed that it accepts
renewable energy as a unique and effective solution for a future
with a safe climate and energy security, with its transformative
development strategy until 2030 and the new energy policy that
prioritizes 'green energy.'" He highlighted Azerbaijan's success in
fostering investment and global cooperation in renewable energy,
adding, "Thanks to the fertile investment and cooperation
environment, our 2 GW 'green energy' projects are financed by
international investors. Investments of around $2 billion and our
partnerships with leading energy companies will enable us to
increase the share of renewable energy in the installed capacity to
33% by 2027."
Shahbazov also provided insights into the ambitious plans for
the production of 18 GW of electricity, "green hydrogen," and
"green ammonia," in addition to three "green energy corridor"
projects to be implemented by 2037 with international partners. He
underscored the importance of cooperation with the European Wind
Energy Association and German companies in advancing offshore wind
power plant equipment, hydrogen production, energy storage systems,
and other green energy initiatives.
"By 2030, we will see the establishment of interregional 'green
energy' connections, a sixfold increase in global energy storage
capacity, and the integration of over 80 million kilometers of
energy networks by 2040," Shahbazov added, referring to
Azerbaijan's role in COP29's energy initiatives.
The minister concluded, "We believe that if COP28 proposed the
goal of tripling renewable energy and doubling energy efficiency,
COP29 will be a platform supporting the achievement of these
goals."
The event also featured discussions on Azerbaijan's balanced
energy policy and its efforts to finance the energy transition.
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