2024-08-15 08:35:01
The United Nations Climate Change Conference, which Azerbaijan will host, currently serves as an active platform for discussing strategies for a number of countries to mitigate the effects of climate change and adapt to the current situation. Representatives of almost every country on the planet gather annually to strengthen the spirit of cooperation that goes beyond geopolitical boundaries. The goal of the talks is to create binding commitments and a framework that will guide countries in their efforts to reduce greenhouse gas emissions.
The strategy of transition to “green” energy implemented under the leadership of President Ilham Aliyev, the projects being implemented are another important indicator of the successful implementation of global investment projects by Azerbaijan in the conditions of military-political and economic upheavals in the world. The hydroelectric, wind and solar power plants that have been put into operation are important both for meeting Azerbaijan’s growing energy needs and for expanding its capabilities in the field of “green” energy exports.
The interest in these projects of global significance is also an indication that Azerbaijan has rich potential in the field of alternative and renewable energy production.
Azerbaijan intends to play an important role in providing Europe with electricity in the future, having invested more in the development of this area in recent years.
Over the past three years, large-scale investments by Masdar from the United Arab Emirates, which is well known in the world and has extensive experience and has implemented green energy projects in more than 30 countries, as well as ACWA Power from the Kingdom of Saudi Arabia in Azerbaijan, confirm the presence of a favorable investment climate in the country.
At the same time, most countries of the world and influential companies perceive Azerbaijan as a reliable partner, true to its obligations.
The 240 MW Khizi-Absheron and 230 MW Garadag wind power plants with a total investment value of over $500 million are the first energy projects in Azerbaijan based on foreign investment.
As a result of the operation of these stations, it is planned to produce 1.5 billion kWh of electricity per year, save more than 330 million m3 of natural gas, and prevent more than 600 thousand tons of carbon dioxide emissions;
According to experts, Azerbaijan has a potential of over 27 gigawatts of wind and solar energy on land and 157 gigawatts of wind energy in the Caspian Sea. In Karabakh and Zangezur, the wind, solar and hydroelectric potential exceeds 10 gigawatts. Identification and effective use of the rich potential in this area will significantly satisfy the growing need for electricity in Azerbaijan, which has restored its territorial integrity and sovereignty.
Azerbaijan, focusing on energy production from alternative sources, aims to save the volume of fuel oil and natural gas used to operate thermal power plants. As a result, the country is expected to be able to export natural oil and gas to Europe in large volumes, which will increase its income.
MTM Analytical Group