An offshore wind roadmap has been realesed

On the second day of the Baku Energy Forum, Offshore Wind Roadmap has been realesed with the support of the World Bank and the International Finance Corporation (IFC). 

The analysis of the potential for the development of offshore wind energy in Azerbaijan, the steps to be taken, international cooperation, technical, economic, environmental, social aspects, employment and financing were discussed at the relevant session of the forum. It was noted that in accordance with the priorities of decarbonization and sustainable development in Azerbaijan, the roadmap shows the potential to install wind power plants with a total installed capacity of 7.2 GW by 2040 with the development of infrastructure and investment attraction in the long term. However, the document also considers the scenario of low growth, which is estimated at a potential rate of 1.5 GW.

Speaking at the session, Deputy Energy Minister Elnur Soltanov said that over the past years Azerbaijan has effectively used our oil and gas resources in the Caspian Sea for the economic development of our country. Now, in parallel with oil and gas, there is an opportunity to benefit from a new resource - offshore wind energy. "Offshore wind energy has significant potential in achieving our objectives of decarbonization and economic diversification for the future development of Azerbaijan, and our experience in the oil and gas sector creates unique opportunities for the development of this new sector," he added. 

It should be noted that the road map was realesed with the participation of international consultants in accordance with the Memorandum of Understanding signed between the Ministry of Energy and the IFC on cooperation in the field of offshore wind energy within the Energy Sector Management Assistance Program-International Finance Corporation (ESMAP-IFC).