IFC: Offshore wind power in Azerbaijan to boost competitiveness in energy sector

Offshore wind energy development in Azerbaijan will help improve competitiveness in the energy sector as the country pursues a new growth model based on the private sector.

The remarks came from Sean Whittaker, Chief Industry Specialist of the International Finance Corporation (IFC), this week, Trend reports.

He said that offshore wind energy development will also help improve the necessary infrastructure and address climate change, told Trend.

“The offshore wind power roadmap for Azerbaijan outlines two potential paths in the context of its future electricity needs - a low growth scenario and a high growth scenario. In the first case, offshore wind power will provide only 7 per cent of Azerbaijan's electricity needs by 2040 - not enough to decarbonize its energy system. A high growth scenario will provide 37 per cent of national demand, in which case offshore wind will play a key role in achieving Azerbaijan's decarbonization goals,” he said.

The new roadmap in this area contains several recommendations. These include setting targets for 2030 and 2036, developing and competitively bidding for a 200 MW demonstration project, followed by larger projects, further exploration of potential offshore wind development areas, infrastructure upgrades, implementation of international best practices for attracting funding, training government agencies and the workforce to build knowledge and capacity.