Azerbaijan's strategic location allows us to play the role of a bridge that transfers "green electrons" from Central Asia to Türkiye and the European Union, said Afgan Isayev, Vice President of the State Oil Company of Azerbaijan (SOCAR), during a panel discussion at the Azerbaijan International Investment Forum, APA-Economics reports.
He noted that we are still at the beginning and there are many opportunities ahead:
"For example, we are now starting to consider the development of offshore wind energy. Onshore wind and solar energy are in the development stage. But the potential at sea has not yet been tapped, and there are huge opportunities in this area. There is an estimated 157 gigawatts of potential in our territorial waters in the Caspian Sea. In addition, geothermal energy has not yet been used. We have started research with some partners, and in the future, more work will be done for electricity generation, geothermal energy, as well as district heating. There are also huge opportunities in this area."
"There is also great potential in the field of pumped storage hydro technology, especially in our liberated territories. New modern infrastructure, potential microgrids, battery-based energy storage solutions - new technological advances are observed in this area every year," A. Isayev added.
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