Azerbaijan Plans to Invest $2.8 Billion in Green Energy by 2027
Azerbaijan plans to invest $2.8 billion in renewable energy by 2027, Fagan Abdurahmanov, head of the Renewable Energy Agency of Azerbaijan (AREA), during the energy transition investment forum for Central Asia at COP29. "We understand that this is no easy task, but Azerbaijan has shown that commitment and innovation can transform national energy strategies," Abdurahmanov emphasized.
He also mentioned that, to date, 4,500 hectares of land have already been allocated in Azerbaijan for renewable energy zones.
Energy
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Kyiv is not negotiating with anyone about extending the transit of Russian gas to Europe after 2024, when the contract with Gazprom expires, by the Ukrainian Ministry of Energy stated at the end of last week. The ministry emphasized that it had not discussed this issue with Italy, Slovakia, or Austria. Moreover, the issue of re-exporting Russian gas has not been discussed with Azerbaijan either.
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The State Oil Company of Azerbaijan (SOCAR), together with the company M-Gaz, began supplying natural gas to social consumers in the Ruse region of Bulgaria on November 16.
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Azerbaijan attaches great importance on cooperation with Central Asian countries in the implementation of regional projects in the field of renewable energy, Azerbaijan's Minister of Energy Parviz Shahbazov stated on November 15 at the COP29 investment forum on energy transition issues for Central Asia.
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Consumers in Azerbaijan spent 2 billion 780.2 million manats ($1.63 million) on purchasing automotive gasoline and diesel fuel in the first ten months of this year. According to the State Statistics Committee of Azerbaijan, this expenditure has increased by 6.5% compared to the same period last year.
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