Energy Minister: Azerbaijan will play an important role in regional integration in the field of renewable energy through the green energy corridor

Energy Minister Parviz Shahbazov spoke at High-Level Plenary Session on Tripling of Renewables held in Abu Dhabi within the 14th session of the Irena Assembly.

Azerbaijan's accession to the Global Promise on Renewable Energy and Energy Efficiency was appreciated in the context of our country's commitment to the transition to green energy. It was noted that COP29 created an opportunity for Azerbaijan to advance the achievements in the development of renewable energy. It was noted that COP29 will be an important platform for mobilizing efforts to adopt new global collective funding goals: “Financing is also an important condition to triple renewable energy by 2030. Investments should be aimed at building production capacities, integrating them into the energy system, increasing and modernizing of the network capacity, building interconnectors and energy storage systems between countries,” the Minister added.

Stressing that Azerbaijan will be a country contributing to the growth of renewable energy potential on a national and regional scale by 2030, the Minister spoke about the projects implemented to supply green energy, which is an important component of energy partnership with the European Union. It was noted that the regional context is of strategic importance in the goal of tripling renewable energy. The Caspian-Black Sea-Europe green energy corridor, of which feasibility study will be ready by the end of the year, will make Azerbaijan one of the leading countries in regional integration in the field of renewable energy.