2024-06-11 22:35:43
The Baku Power Week has turn into a practice. This occasion was first held 30 years in the past. At the moment, Azerbaijan had simply regained its independence and confronted sure difficulties. To develop the nation it was needed to draw overseas funding.
As Day.Az stories, MP of the Milli Majlis (parliament) of Azerbaijan Azer Badamov informed Pattern about this.
He famous that it was after the Baku Power Week held in 1994 that the “Contract of the Century” was signed, and billions of {dollars} in investments started to movement into the nation’s economic system.
“If 30 years in the past the Baku Power Week was designed for the event of the oil and fuel sector, right this moment it additionally contains the inexperienced vitality sector. In the present day, our agenda contains new challenges associated to the manufacturing of inexperienced vitality. And if at the moment in A number of corporations from various international locations participated on this occasion, right this moment there are 300 corporations from 37 international locations. These corporations reveal the newest applied sciences throughout the framework of the Baku Power Week. Naturally, it will play an necessary function each within the growth of our oil and fuel trade and within the formation of “inexperienced” sources. vitality,” he stated.
In response to the deputy, Azerbaijan’s “inexperienced” agenda is kind of intensive.
“Our nation outlined its “inexperienced” agenda even earlier than the choice was made to carry COP29. Thus, the territories liberated from occupation have been declared a “inexperienced” zone, the “inexperienced” vitality potential of our nation was decided, it was confirmed that the potential of renewable vitality sources within the nation is about 200 gigawatts. Azerbaijan, by growing a “inexperienced” agenda, additionally contributes to the battle towards international local weather change. Thus, the nation is taking sensible steps to scale back fuel emissions that trigger thermal results. Throughout the framework of the Baku Power Week, the inspiration was laid for 3. new renewable vitality stations. With the launch of those stations, 1 gigawatt of recent capability will likely be added to our “inexperienced” vitality capability. Basically, by the tip of 2027, Azerbaijan plans to provide 2 gigawatts of “inexperienced” vitality. It’s the manufacturing of “inexperienced” vitality that enables us to avoid wasting on. fuel consumption. Thus, the manufacturing of 1 gigawatt of inexperienced vitality will permit us to avoid wasting 0.5 billion cubic meters of pure fuel. By 2027, we plan to extend the amount of fuel that we are going to export to Europe to twenty billion cubic meters. It’s because of the event of the inexperienced vitality sector that we can export saved fuel to Europe,” Badamov stated.
In response to him, rising fuel exports to Europe will scale back the usage of stable gas there.
“That is additionally one among our contributions to the battle towards international local weather change. Our nation will even export “inexperienced” vitality to Europe. Due to a joint settlement between Azerbaijan, Georgia, Romania and Hungary, development of a “inexperienced” cable freeway alongside the underside of the Black Sea will start within the close to future This will even permit us to carry the renewable vitality sources that we are going to produce to European markets. Discussions are underway on all these points, and severe steps will likely be taken in direction of the implementation of the processes. The Baku Power Week will even speed up the movement of recent investments into the nation. our nation. Giant main corporations cooperating with us within the vitality sector imagine that our phrase has the identical weight as our signature, as a result of we’re dedicated to implementing all of the agreements we now have signed. The political significance of holding the Baku Power Week can also be very nice. strengthens the political place of our nation and will increase the variety of our pals. The sending of congratulatory letters by the heads of state of the US, UK and Turkey is an indicator of the worldwide significance of Baku Power Week. Azerbaijan has turn into a rustic with intensive expertise in internet hosting worldwide occasions. Our nation brings peace, tranquility, mutual profit and growth to each cooperating accomplice,” the deputy added.
Economist-expert Eyyub Karimli informed Pattern that the matters mentioned on the Baku Power Week are essential for our nation and the area.
“Provided that these are matters similar to vitality safety, increasing exploration and manufacturing alternatives within the Caspian Sea and within the area, in addition to the potential of inexperienced vitality, one can see how necessary this occasion is. In the present day, the significance of our nation within the vitality safety of Europe is rising. Our the nation has already begun to efficiently entice overseas buyers within the area of inexperienced vitality. Azerbaijan’s potential on this space is gigantic and the holding of this discussion board creates ample alternatives for its implementation. 300 corporations from 37 international locations are collaborating within the Baku Power Week. All it will contribute to our vitality safety. nation,” the skilled stated.
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