Minister: Azerbaijan comes to front with initiatives of green energy zones and green energy corridors

Parviz Shahbazov, the Minister of Energy of Azerbaijan

© APA | Parviz Shahbazov, the Minister of Energy of Azerbaijan

# 05 June 2024 11:24 (UTC +04:00)

As a traditional energy supplier and a country which will host COP29, Azerbaijan is developing all types of energy resources with the responsibility of ensuring the reliability of energy supply, as well as reducing emissions and transitioning to green energy, Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov said during his speech at the Baku Energy Forum held as part of the Baku Energy Week, APA-Economics reports.

The minister said that such an approach to conventional and clean energy sources is one of the important conditions for a fair, regulated and responsible transition highlighted in the COP28 Consensus.

“The share of renewable energy in the installed capacity of electricity at the expense of up to 2 GW of green power, which will be realized by the end of 2027, will increase to 33%. Investment of more than USD 2 billion, production of 5.3 billion kilowatt hours of electricity, release of 1.2 billion cubic meters of gas, reduction of emissions up to 2.5 million tons are the expected benefits of these projects,” – the Minister added.

It also was noted that in addition to decarbonization, in the context of post-conflict construction and diversification of energy supply sources, the approach today brings Azerbaijan to the front with initiatives of green energy zones and green energy corridors. During the speech, the steps taken regarding the establishment of "Caspian-Black Sea-Europe", "Azerbaijan- Türkiye-Europe" and "Central Asia-Azerbaijan-Europe" green energy corridors were mentioned. It was stated that in addition to Azerbaijan’s playing an important role in the establishment of regional green energy connections, at this new stage, it will also diversify Europe's energy supply with large volumes of natural gas released due to green energy, hydrogen and renewable energy.

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