Azerbaijan-US Green Energy Forum was held

The Azerbaijan-US Green Energy Forum was organized by the Ministry of Energy and AZPROMO.

The forum, co-chaired by Deputy Minister of Energy of Azerbaijan Elnur Soltanov and Assistant Secretary of Commerce for Global Markets of the United States of America Arun Venkataraman, was attended by a number of government agencies and business representatives.

First, a bilateral meeting was held between the co-chairs. At the meeting, the sides exchanged views on expanding relations between the two countries in the field of energy, studying the possibilities of cooperation on green energy and other issues of mutual interest.

Making the opening speech at the forum, Deputy Minister stated that the choice of the right time for the development of various energy sources, the succession of far-sighted political decisions, and the decisive steps of the President of Azerbaijan, their complementarity contributed to the energy security not only of ourselves but also of our partners and ensure the smooth transition to green energy.

During the speech, information was given about strategic goals, large-scale works in the field of renewable energy, and implemented projects: "Over the last 8 months, we have signed cooperation documents with "Masdar", "ACWA Power" and "Fortescue Future Industries" on 25 GW of "green energy" projects. These production capacities, which are planned to be put into use gradually by 2040, are way more than our demand, and our potential is also way more than the mentioned capacities to be created. The Azerbaijani sector of the Caspian Sea with a potential of 157 GW of wind energy, the liberated areas, and Nakhchivan are the most attractive places for "green investment" in our country".

During his speech, he also talked about Nakhchivan's rich solar energy potential, its transformation into a green energy center, and plans for foreign investment projects with a capacity of 1,500 MW. In general, it was noted that a significant part of the green powers to be developed in the country can be exported to Türkiye and Europe.

Assistant Secretary Venkataraman delivered remarks at the Green Energy Forum and said: “This forum is important so you can hear directly from U.S. companies interested in green opportunities in Azerbaijan. The Department of Commerce and the U.S. private sector are committed to helping Azerbaijan achieve its clean energy goals.”

While noting U.S. commitment towards working with Azerbaijan on green energy sector as well as decarbonization in emissions-intensive sectors, Assistant Secretary Venkataraman stated:  “President Biden has committed to take ambitious action to tackle climate change and set the United States on the path to achieve net-zero emissions by 2050. This Administration has launched a coordinated whole-of-government approach to address climate change.”  

Afterward, presentations on the current situation in the production of electricity in our country, relations with neighboring countries in the field of electric power, as well as renewable energy potential, the legislative framework in the relevant field, investment climate, work done in this field and current projects were demonstrated, discussions were held on green hydrogen projects and clean energy technologies integration plans into the energy balance.

The Green Energy Forum continued with business meetings organized between Azerbaijani and US companies.