UAE energy giant anticipates liberalisation of Azerbaijan’s electricity market in four years

The UAE energy giant Masdar expects liberalization of the electricity market in Azerbaijan in the next 4 years.

Murad Sadigov, manager of Masdar Azərbaycan Enerji LLC, made the remarks a conference on green finance in Baku, Caliber.Az reports, citing local media.

“It was a difficult transformation for the Azerbaijani government, as the national legislation was aimed at regulating electricity generated from fossil fuels. However, as investors we see that there is some progress. In the next 4 years, the electricity market of Azerbaijan will be liberalised and it will be a good impetus in terms of development of green energy,” he said.

Sadigov noted that jointly with the Ministry of Energy of Azerbaijan market research was conducted, which included such issues as domestic needs, potential for export of green energy and so on.

He said that the first green energy project implemented by the company in Azerbaijan “was complicated”.

“However, now we are full of optimism and expect that the Azerbaijani government will further liberalize the electricity market and introduce a liberalized energy tariff model,” he stressed.

Masdar is actively engaged in a range of renewable energy projects and collaborations in Azerbaijan. It is all part of Masdar’s ongoing commitment to supporting Azerbaijan to meet its renewable energy aims.

By Khagan Isayev