Energy Minister at COP31: We are turning COP29's grid agenda into concrete projects connecting countries and markets

An event entitled Powering the Electric Age: Delivering the COP29 Grid and Storage Pledge to Unlock the COP31 Vision was held in Antalya as part of COP31 Energy and Transport Day, jointly organized by Azerbaijan, Türkiye, the International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA).

In his address, Energy Minister Parviz Shahbazov emphasized the importance of developing clean energy generation alongside the infrastructure needed to store and deliver electricity to consumers. The Minister stated that electrification, industrial and urban development, and the expansion of artificial intelligence and data centers are placing increasing demands on the reliability of electricity supply. He noted that the COP29 Global Energy Storage and Grids Pledge, which has so far been joined by 74 countries, responds to these challenges by calling for a sixfold increase in global energy storage capacity to 1,500 GW by 2030, the construction or modernization of 25 million kilometers of electricity grids by 2030, and the addition or upgrading of a further 65 million kilometers by 2040. It was highlighted that Azerbaijan is supporting the COP29 initiative through concrete projects. It was stated that Azerbaijan is complementing its national grid and energy storage capabilities with regional electricity interconnections linking Central Asia, the South Caucasus, Türkiye and Europe. “Through these corridors, we are turning COP29's grid agenda into concrete projects connecting countries and markets,” the Minister added.

To accelerate the implementation of COP initiatives, the Minister highlighted several key priorities: aligning power generation, electrification and grid development plans; ensuring financing mechanisms that take into account the economic benefits of grids and energy storage; and securing joint decision-making and financial support for regional projects.