Azerbaijan's Government Forecasts State Budget Parameters Based on Various Oil Prices

The hydropower plants of Karabakh and Eastern Zangezur, which possess high hydroenergy potential, are the main source of "clean energy" in the region, Energy Minister Parviz Shahbazov stated this in an article published in the newspaper "Azerbaijan." According to the minister, the energy needs of these two regions are met 100% through "green energy," with excess production directed to other regions of Azerbaijan.

By 2027, Azerbaijan plans to implement projects for the construction of eight solar and wind power plants, with a total cost of $2.8 billion, funded by foreign and local investments, Energy Minister Parviz Shahbazov stated in an article published in the official press. "The plans to build and connect to the grid eight large-scale solar and wind power plants, totaling around 2 GW, with investments of about $2.8 billion, demonstrate Azerbaijan's rapid progress towards 'green energy,' marking an irreversible process," the minister wrote.

Azerbaijan, Kazakhstan, and Uzbekistan will sign an intergovernmental agreement on strategic partnership in the development and transfer of green energy at COP29, Energy Minister Parviz Shahbazov wrote in his article published in the official press. He emphasized that Azerbaijan is a crucial part of the new energy corridor initiative starting in Central Asia.

With the commissioning of new power plants, Azerbaijan's energy system capacity has reached 8,415.6 MW, marking a 4% increase compared to 2023, Energy Minister Parviz Shahbazov mentioned  in an article published on October 18 in the official press.