11:25 - 10.01.2025

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January 10, Fineko/abc.az. The development of renewable energy remains one of the priorities of Azerbaijan's state energy policy. Due to the rich potential of solar and wind energy, the country is actively working to raise foreign investments in this sector.

ABC.AZ reports that over the past few years, agreements have been signed with leading international industry players such as ACWA Power (Saudi Arabia) and Masdar (UAE) for construction of solar and wind power plants in Azerbaijan.

According to current plans, it is planned to implement projects on construction of 8 industrial-scale solar and wind power plants with total capacity of about 2 GW in Azerbaijan by 2027. The total investments in the projects are estimated at $2.8 billion and will be realized through foreign and local investments.

The expected effect of these projects is 5.3 billion kWh of electricity generation a year, up to 32.6% increase in the share of renewable energy sources in the total energy system in 2027, 1.2 bcm of gas - savings annually, 2.5 million tons - reduction of greenhouse gas emissions.

In 2024, work on development of the renewable energy sector was carried out in parallel in several areas: launch of projects on construction of solar and wind power plants; creation of a battery power storage system; production of "green" hydrogen and development of geothermal energy.