Renewables Webinar was held

Webinar under the theme “Renewables Sector in Azerbaijan: Changes and Opportunities” jointly organized by British Embassy Baku Department for International Trade (DIT) and British Business Group (BBG) Azerbaijan  was held. This webinar will aim at informing the UK oil and gas companies in Azerbaijan about the ongoing reforms, work done and plans in the renewables sector and what investment opportunities this will help open up for UK businesses.

About 100 representatives and experts from international organizations such as IRENA, World Bank, ERDB, UNDP, as well as from companies such as BP, ABB, Hayward Tyler, Nobel Oil, Royalton Holdings, Mott MacDonald took part at the webinar.

The Head of Administration of the Ministry of Energy Zaur Mammadov informed about the reforms carried out in the energy sector of Azerbaijan, legislative acts prepared on the regulation in the field of traditional energy, renewable energy and energy efficiency, energy and utilities. In particular, detailed information was given on the draft law of the Republic of Azerbaijan “On  the use of renewable energy sources in the generation of electricity”, and it was noted that one of the directions intended for attracting private investments in the renewable energy sector in the law drafted on the basis of international experience is the holding of renewable energy auctions. At the same time, the renewable energy potential in Azerbaijan, the work done in this area, the pilot projects implemented in the field of solar and wind energy were touched upon.

Within the webinar, the specialists from Azerbaijan Renewable Energy Agency informed the participants on the renewable energy potential of Azerbaijan. The renewable energy potential of Nagorno-Karabakh and surrounding regions such as hydropower, solar, wind energy, the work to be done and the steps to be taken to calculate the exact potential in these areas were brought to the attention and the possibility of cooperation opportunities with the private sector in this area was noted.

Director of Country Engagement and Partnerships Division of IRENA Mr Gurbuz Gonul, who made presentation on "Overview of global energy transformation. Prospects for Azerbaijan",  gave detailed information about the development of the use of renewable energy sources in the world and brought to the attention of the seminar participants that the successful cooperation with Azerbaijan in the relevant field was continued.

Mr Joel Derbyshire, Country Director for Azerbaijan and Regional Lead for Energy of British Embassy Baku Department for International Trade,Mr John Patterson, Chairman of the British Business Group (BBG) Azerbaijan  and Mr Niall Henderson, Regional Vice-president of BP for Azerbaijan-Georgia-Turkey also made speech at the webinar.