In the initial stage, it is planned to export 4 GW of green energy from Azerbaijan to Europe.

According to Azernews, Azerbaijan's Deputy Energy Minister, Kamal Abbasov, said this at the 14th IEA-IEF-OPEC Symposium on Energy Outlooks held in Riyadh, Kingdom of Saudi Arabia.

He mentioned in his speech Azerbaijan's achievements in the energy sector in terms of both traditional and renewable energy sources. The Deputy Minister emphasised that Azerbaijan, which will host COP29 this year, pays special attention to sustainable and ecologically clean energy solutions.

He said that Azerbaijan joined the initiatives related to Green Energy and energy efficiency within the framework of COP28, and it is planned to increase the share of renewable energy in the country's total installed capacity of electricity from the current 20 % to 33 % by 2027.

K. Abbasov noted that Azerbaijan's interest in the field of Green Hydrogen was expressed and said that the potential for production and export of hydrogen through renewable energy sources is being investigated to meet the growing demand for low-carbon energy.

It is worth noting that the symposium included 4 sessions entitled Energy Security, Technology, and Sustainability—Scenarios and Markets, Key Outlook and Comparative Analysis Findings, Trade and Investment in Energy Security, Market Stability, and Affordable Access and Policy, and Energy Market Incentives to Reach Shared Goals.