Azerbaijan aims developing use of wind energy

By Trend

The plans of developing the use of marine wind energy have been discussed in Azerbaijan, Trend reports referring to the Azerbaijani Energy Ministry.

The discussions were held with the participation of representatives of the Ministry of Energy, the World Bank, the International Finance Corporation (IFC) and international consulting companies within the development of the use of marine wind energy in Azerbaijan.

"The preparation of the "green" energy concept was determined by the president as one of the important tasks,” Azerbaijani Energy Minister Parviz Shahbazov said. “The achievement of "green" energy growth, which is one of the priorities of the country's socio-economic development, as well as bringing the share of renewable energy sources in the production capacity of electricity up to 30 percent by 2030, actualizes the activity of converting wind into energy.”

“Our cooperation with the IFC in the field of determining the potential of marine wind energy and developing a roadmap will help achieve our goals in the field of green energy,” Shahbazov added.

World Bank Manager Sarah Michael said that the bank is ready, together with the EBRD, to support the development of wind energy, attract investors in this sphere and achieve Azerbaijan's goals in connection with decarbonization.

Then a presentation of scenarios for the development of a marine wind energy project prepared by IFC and a consulting company was considered.

There is a growing interest in marine wind energy worldwide. This is also stipulated by the gradual decrease in the cost of electricity generated by wind turbines.

It is planned to sign a "Memorandum of Understanding between the Ministry of Energy of Azerbaijan and the International Finance Corporation on Cooperation in the Use of Marine Wind Energy" soon.

The work stipulated by the Memorandum of Understanding will be carried out within the Wind Energy Development Program. This program is funded within the World Bank Group's "Energy Sector Management Assistance Program" - ESMAP.