Energy Minister Parviz Shahbazov made a speech at the event organized by the Federation of Industry of Germany within the COP29 and with the participation of German Vice Chancellor, Federal Minister for Economic Affairs and Climate Action Robert Habeck. He said that the COP29 Presidency takes constructive action and initiatives on important issues such as new climate funding, Nationally Defined Contributions (NDCs), National Adaptation Plans (NAP) and Biennial Transparency Reports in order to achieve fair climate results. The Minister stressed that the final agreement to be reached in Baku is a historic opportunity to start the post-Paris period and assessed Azerbaijan's green energy initiatives as an important step in contributing to the global energy transition.

The Minister noted that our goal is to increase the share of renewable energy in the energy balance by 2030 to 35.5%, and by 2035 to a minimum of 40%. At the initiative of the President of Azerbaijan, Mr. Ilham Aliyev, projects of green energy corridors connecting Europe and Asia are currently being implemented. The green energy corridors of Caspian-Black Sea-Europe, Azerbaijan-Turkey-Europe and Central Asia-Azerbaijan, based on 157GW of wind energy of the Caspian Sea and the green energy potential of Central Asia, will connect the energy networks of Azerbaijan, Kazakhstan, Uzbekistan, Turkey, Georgia, Romania and Hungary. "These projects offer unique cooperation opportunities for German and European companies. German companies are leaders in the energy sector and can be important partners for us, especially in the field of wind energy. In addition, there are opportunities for cooperation in the production of green hydrogen and its export to Germany and other European countries. We invite German companies to evaluate all these opportunities. These partnerships will also be beneficial in terms of strengthening European energy security and opening up new markets.”

It should be noted that before the event, a meeting was held with the participation of Minister of Energy Parviz Shahbazov, Minister of Economy Mikayil Jabbarov and Minister for Economic Affairs and Climate Action Robert Habeck. During the meeting, discussions were held on cooperation in the field of renewable energy and involving German companies. The possibilities of cooperation in the field of using the enormous potential of wind energy in the Caspian Sea, the production of green hydrogen and its export to European markets, as well as the development of green energy corridor infrastructures were considered.

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