Central Asia has reached a turning point in the global energy transition, with the region possessing vast renewable energy potential, expanding regional connectivity, and a clear commitment to sustainable development, Director-General of the International Renewable Energy Agency (IRENA) Francesco La Camera said while speaking at the 31st Baku Energy Forum, APA-Economics reports.
According to him, the question is no longer whether the energy transition will happen. The key issue is where investments, industries, and value-creating activities will be concentrated in line with the pace of this process.
“In 2025, renewable energy became the most competitive source of electricity generation, surpassing fossil fuels not only in terms of cost and deployment speed, but also in terms of energy security, resilience, and long-term stability. Last year, a record 692 gigawatts of renewable energy capacity was commissioned worldwide. Renewable energy sources accounted for 49 percent of global installed power generation capacity and 85 percent of newly added capacity,” Francesco La Camera noted.
He emphasized that it is particularly encouraging that this momentum is no longer limited to a few major markets and is increasingly being reflected in developing regions, including Central Asia.
Francesco La Camera added that Central Asia is making an increasingly significant contribution to this global trend and is becoming an important market for renewable energy investments. Growth in the region’s renewable energy sector exceeded 20 percent, significantly higher than the global average of 15.5 percent.
“To fully realize Central Asia’s renewable energy potential, stronger regional coordination and cooperation will be essential. Therefore, promoting renewable energy investments requires the establishment of a common regional framework aimed at aligning strategies and accelerating project implementation,” the Director-General said.
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