“By 2027, as a result of the integration of 1870 MW of green energy into our energy system, the share of renewable energy is expected to reach 33% in electricity investment and from the current 7% to 25% in electricity generation. This means that by 2030, our goal of 30% will be overfulfilled,” Azerbaijani Energy Minister Parviz Shahbazov said during the energy ministers’ online session on favorable and inclusive energy transition for sustainable development within the second Voice of Global South Summit.
According to Shahbazov, the Official Baku cooperates with international energy companies on the implementation of green energy projects up to 10 GW for domestic consumption, decarbonization of the economy, and exports in the coming decade.
The speech focused on the challenges and opportunities of the energy transition in the context of the role of renewable energy sources in sustainable development and the need to reduce carbon emissions. It was noted that although the energy transition does not have a single formula depending on many factors such as the development of countries, the level of energy security, and the uneven distribution of investments, a fair, favorable, and inclusive transition is the common interest of all.
The minister pointed out that Azerbaijan, which plays a strategic role in energy supply on a regional and European scale, is a supporter of a balanced approach to the energy transition and, in this regard, develops traditional and renewable energy sources in unity. It was noted that this policy ensures sustainability in energy supply, meeting the needs of energy resources, and the implementation of green plans.
“Our strategic priorities are to create the Caspian-Black Sea-Europe and Azerbaijan-Türkiye-Europe corridors and export more than 5 GW of green energy through diversified routes. These corridors promise the possibility of transporting green energy from Central Asian countries,” the minister said.
Note that the first Voice of the Global South Summit, in which Azerbaijan is also represented, was held in January this year.