Azerbaijan accelerates renewable energy expansion plans
Nazrin Abdul
Read moreAzerbaijan is accelerating efforts to increase the share of renewable energy sources (RES) in the country's overall energy balance.
This was stated by Deputy Minister of Energy Kamal Abbasov during his speech at the 8th meeting of the intergovernmental commission on trade and economic cooperation between Azerbaijan and Serbia, Azernews reports.
According to him, Azerbaijan aims to achieve the goal of having a 30 percent share of renewable energy sources in the country's installed energy capacity by 2030 ahead of schedule.
"At the current pace of energy transition in the country, the share of renewable energy sources could reach 32.6% by 2027 and 34.6% by 2030," Abbasov said.
The government's calculations are based on the portfolio of ongoing renewable energy projects with international energy companies.
This project portfolio already encompasses a total capacity of 10 GW.
"The energy obtained from renewable energy sources is intended for domestic consumption, decarbonization of the economy, and export," Abbasov noted.
Currently, renewable energy sources account for 17-18 percent of the country's energy balance.
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