Baku, Riga advance talks on renewable energy cooperation at COP29

Azerbaijan's Energy Minister Parviz Shahbazov and Latvia's Minister for Climate and Energy, Kaspars Meļņis, held talks on potential cooperation in renewable energy during COP29.

The meeting focused on the significance of the energy initiatives under the COP29 presidency and Azerbaijan’s projects related to the production and export of "green" energy, emphasising their role in enhancing energy security and facilitating the global energy transition, Caliber.Az reports via local media.

It was highlighted that, thanks to wind and solar energy projects, the share of renewable energy in Azerbaijan's installed electricity capacity is expected to rise to 33% by 2027, and to 35.5% by 2030.

Additionally, the meeting included an extensive exchange of views on the supply of "green" energy and "green" gas from Azerbaijan and Central Asia to Europe and Türkiye, as well as the implementation of energy storage systems to improve the resilience of renewable energy sources.

Latvia also shared its experience in renewable energy, and the potential for future collaboration in the energy sector was thoroughly discussed.

Note that, the COP29 summit, hosted at Baku Stadium from November 11 to 22, marks Azerbaijan's first time as a COP host and represents the country's largest international event to date. 

The summit’s main objectives include setting a New Collective Quantitative Goal (NCQG) for climate finance and launching 14 initiatives designed to align climate action with the UN's Sustainable Development Goals (SDGs). These initiatives focus on areas such as green energy corridors, climate resilience, clean hydrogen, and green digital technologies.

Azerbaijan reaffirmed its commitment to global climate action, with President Ilham Aliyev underscoring the nation's pivotal role in sustainable development. The unanimous choice of Azerbaijan as host highlights the international community's confidence in its leadership on climate issues.

By Aghakazim Guliyev