A $2.8 billion investment is planned for the construction of eight major solar and wind energy stations in Azerbaijan by 2027. The total capacity of these stations will be approximately two gigawatts, the Department Head at the Azerbaijan Renewable Energy Agency (AREA), Fagan Abdurrahmanov, stated during his speech at the Energy Transition Investment Forum for Central Asia within the framework of COP29, APA reports.
He noted that this two-gigawatt figure is not just a number but is based on assessments conducted by the TetraTech company in the United States and the EPRA consulting company in Türkiye.
"Currently, 4,500 hectares of land have already been designated as a renewable energy zone. This land has been incorporated into the modern mega-project, and this morning, financial terms were finalized with our partners. These special zones will play a crucial role in implementing large-scale energy projects and will strengthen Azerbaijan's determination to build a sustainable future," Abdurrahmanov added.
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