Baku, November 17, AZERTAC

Azerbaijan’s Energy Minister Parviz Shahbazov has addressed the session of the energy ministers on favorable and inclusive energy transition for sustainable development in an online format, on the sidelines of the Voice of Global South Summit.

The minister highlighted the challenges and opportunities of the energy transition in the context of the role of renewable energy sources in sustainable development and the need to reduce carbon emissions. He noted that although the energy transition does not have a single formula depending on many factors such as the development of countries, the level of energy security, uneven distribution of investments, a fair, favorable and inclusive transition is the common interest of all.

Parviz Shahbazov pointed out that Azerbaijan, which plays a strategic role in energy supply on a regional and European scale, supports the balanced approach to the energy transition, and in this regard, develops traditional and renewable energy sources in unity. The Azerbaijani minister underlined that this policy ensures sustainability in energy supply, meeting the needs of energy resources and the implementation of green plans. “We cooperate with international energy companies on the implementation of green energy projects up to 10 GW for domestic consumption, decarbonization of the economy and export in the coming decade. By 2027, as a result of the integration of 1870 MW of green energy into our energy system, the share of renewable energy is expected to reach 33% in electricity investment and from the current 7% to 25% in electricity generation. This means that by 2030 our goal of 30% will be overfulfilled.”

Highlighting Azerbaijan's strategic priorities in the field of energy export and regional cooperation, the minister said: “Our strategic priorities are to create the Caspian-Black Sea - Europe and Azerbaijan - Türkiye - Europe corridors and export more than 5 GW of green energy through diversified routes. These corridors promise the possibility of transporting green energy from Central Asian countries.”