Energy Minister: Nakhchivan joins Green Energy marathon

    ECONOMICS  03 June 2023 - 15:51

    Azerbaijani Energy Minister Parviz Shahbazov said that Nakhchivan is joining the "Green Energy" marathon.

    “The concept of developing a ‘green energy zone’ is also being developed in Nakhchivan. Currently, there are 12 power plants with an installed capacity of 252 MW, 10 of which generate electricity from renewable energy sources. A third of the needs of the Autonomous Republic in electricity is met by renewable energy sources," he said at a special session in Nakhchivan as part of the Baku Energy Week, Report informs.

    The minister added that there is an opportunity to significantly increase this figure, and for this purpose, the geography of Azerbaijan’s cooperation with foreign investors includes Nakhchivan.

    “Creation of about 1,500 MW of production capacities for wind and solar energy in the Autonomous Republic through foreign investment, of which the export of at least 1,000 MW to Türkiye and Europe is our strategic goal, and we have already begun work on this," he said.

    He also stressed that the Energy Ministry and the State Oil Company (SOCAR) will sign a number of documents on cooperation on June 3.

    “Of the 900 MW provided for by solar and wind energy projects with TotalEnergies and Nobel Energy, 650 MW are planned to be created in Nakhchivan. The construction of a solar power plant with a capacity of 400 MW and Electricity exports to Türkiye will be carried out in cooperation with Nobel Energy, while TotalEnergies plans to evaluate and implement projects for a 250 MW solar power plant, as well as energy storage systems," the minister added.

    Azerbaijan held the Baku Energy Week, combining three prestigious events under one name from May 31 to June 2.

    Within the framework of the Baku Energy Week, the 28th International Caspian Oil and Gas Exhibition - Caspian Oil&Gas, the 11th Caspian International Energy and Green Energy Exhibition - Caspian Power and the 28th Baku Energy Forum (Conference) were held.

    Baku Energy Week is traditionally held with the support of the Ministry of Energy and the State Oil Company of the Republic of Azerbaijan (SOCAR).

    The organizers of the Baku Energy Week are Iteca Caspian and Caspian Event Organizers together with ICA Events and CEM FZ LLC as international partners.

    326 companies from 37 countries have confirmed their participation in the events to be held within the framework of Baku Energy Week.

    The Caspian Oil&Gas and Caspian Power exhibitions are being held at the Baku Expo Center, and the Baku Congress Center will host the Baku Energy Forum.


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