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Energy Minister Parviz Shahbazov delivered a keynote speech at TÜREB-GWEC COP31 Ministers and Plenary Accelerating Wind Energy Investments: From COP31 Commitments to Partnerships, organized under the auspices and with the support of the Ministry of Energy and Natural Resources of the Republic of Türkiye, on the sidelines of COP31.
The Minister emphasized the importance of wind energy in meeting growing electricity demand with reliable and affordable energy while reducing emissions. He highlighted the importance of long-term power purchase agreements and a climate of investor confidence in attracting investment to the sector. It was noted that wind energy currently accounts for 14.3% of the total installed renewable energy capacity. Onshore and offshore wind power plants will make a significant contribution to increasing the share of renewable energy in Azerbaijan’s total installed electricity generation capacity to 43% by 2035. Referring to the 157 GW wind energy potential of Azerbaijan’s sector of the Caspian Sea, the Minister stated that sites for offshore wind projects had been identified, a legal framework had been established, and projects with a combined capacity exceeding 4 GW were being planned.
It was noted that wind energy would serve as one of the main sources of supply for the Caspian-Black Sea-Europe, Azerbaijan-Türkiye-Europe via Nakhchivan, and Azerbaijan-Georgia-Türkiye-Bulgaria green energy corridors. The Trans-Caspian Corridor, in turn, will enable wind energy generated in Kazakhstan and Uzbekistan to reach wider markets via Azerbaijan. Inviting international financial institutions, investors and companies to cooperate, Minister Parviz Shahbazov stated that Azerbaijan stands ready to work with its partners in this direction.
During the event, a certificate of appreciation was presented in recognition of a sapling planted on behalf of Energy Minister Parviz Shahbazov as part of Türkiye’s Green Homeland Mobilization initiative.
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