Azerbaijan sees an opportunity to export 5 GW of renewable energy from 2030

Baku/18.10.23/Turan: Azerbaijan's Energy Minister, Parviz Shahbazov, addressed a distinguished gathering on October 18 during the III Forum of International Cooperation "One Belt, One Road." In his remarks, he provided insights into Azerbaijan's ambitions for the distribution of "green energy."

According to the Ministry of Energy's statement, Azerbaijan aims to establish 7 GW of green energy, predominantly from renewable sources (RES), by the year 2030. Of this capacity, 5 GW is earmarked for export through two key corridors: the Caspian-European Union and Azerbaijan-Turkey-Europe.

Shahbazov underlined the intention to transmit electricity from Central Asia to Azerbaijan and further to Europe, thereby infusing the One Belt, One Road initiative with eco-friendly connections.

Azerbaijan's strategic vision entails renewable energy accounting for over 37% of the nation's electricity capacity by 2027, a notable increase from the current 18% of the power system's design capacity, which includes hydropower.

Exporting "green energy" from Azerbaijan to Europe is envisioned to traverse Georgian territory and cross the Black Sea. The President of Azerbaijan recently disclosed that a feasibility study for the project, involving the installation of an underwater power transmission line beneath the Black Sea, will be ready in the coming months. The Azerbaijani section of this project has also seen the announcement of a corresponding tender by the Ministry of Energy this week.

In December 2022, Azerbaijan, along with Georgia, Romania, and Hungary, signed an agreement in Bucharest to establish the Black Sea Energy underwater electric cable, boasting a capacity of 1,000 MW and a length of 1,195 km. Bulgaria joined the project in June 2023. This cable will serve as a conduit for the transportation of "green" electricity generated in Azerbaijan, routed through Georgia and the Black Sea to Romania, with subsequent transmission to Hungary and other parts of Europe. The construction of the cable is expected to span 3-4 years, with funding assistance from the European Commission, making it the world's longest cable of its kind.

Additionally, the "Azerbaijan-Turkey-Europe" corridor for the export of "green energy" may potentially traverse Eastern Zangezur and Nakhchivan, a topic discussed at the Azerbaijani-Turkish energy forum in late September.

Azerbaijan has extended invitations to Chinese participation in its renewable energy endeavors. Notably, Dongfang is involved in the construction of the Garadag solar power plant with a capacity of 230 MW, while China Gezhouba Group Overseas Investment is exploring renewable energy projects totaling 2 GW in Azerbaijan.

In his address in Beijing on October 18, Minister Shahbazov emphasized the significance of the "One Belt, One Road" project in advancing global supply chain development, security, and stability.

As part of this initiative, Azerbaijan is actively developing the "Middle Corridor," with plans to increase cargo transported via the Baku-Tbilisi-Kars railway from 1 million to 5 million tons annually and augment the Baku commercial port's capacity from 15 million to 25 million tons of cargo transshipment annually.

Shahbazov also highlighted the strengthening trade ties between Azerbaijan and China, with a notable 21% increase in trade turnover. Moreover, transit traffic from China through Azerbaijan in western and reverse directions surged by 60%.

Azerbaijan's commitment to fostering cooperation was underscored by its participation in the "Beijing Initiative to deepen cooperation in the field of communications," as adopted at the October forum.--0--