Supporting Azerbaijan’s Green Energy Transition

Transcript

The capital of Azerbaijan, Baku, is a dynamic modern city.

The towering skyscrapers, lining the Caspian Sea coast, symbolise years of rapid economic growth thanks to the country’s vast supply of natural resources.

To continue this success, Azerbaijan is now investing heavily in renewable energy, with an aim to encourage sustainable growth and diversify the country’s energy supply.

Kamran Huseynov, Former Deputy Director, Azerbaijan Renewable Energy Agency:

“Azerbaijan identified five national priorities. Green growth and a clean environment was identified as one priority.

Before, the share of renewables in the installed capacity was around 16.5%, but now we achieved 20.3%.

By introducing an additional 8 solar power plants and wind power plants, we are going to increase the share of renewables to 30% threshold by 2030.”

One such project is a brand new solar plant north of Baku.

Candice McDeigan, Former Country Director for Azerbaijan, ADB:

“Right now we are actually standing in what is the most significant solar power plant in the Caucasus. 230 megawatts, inaugurated in 2023. A project by Masdar, co-financed by ADB up to $21.4 million dollars.

This demonstrates the commitment of Azerbaijan, as an oil rich country, to really start its transition into renewable energy.

Of course, Asian Development Bank is proud to partner with the Government of Azerbaijan. To achieve this clean, green and sustainable future.”

Innovation is also playing a key role in Azerbaijan’s energy transition.

A floating solar pilot project has just come online on Boyukshor Lake.

This exciting technology reduces water evaporation and maximises land use in the heart of the city while also helping Azerbaijan to more rapidly decentralise and decarbonise its electricity supply.

As a further sign of the change that is taking place, COP29 is being held in Baku in November 2024.

Leyla Hasanova, Youth Climate Champion, COP29:

“The green energy transition is a vital part of Azerbaijan's response to climate change.

The actions we take and the decisions that we make today will define whether our youth and children will inherit a sustainable future.”

Azerbaijan’s green energy revolution shows that it is possible to continue rapid economic growth, while also decarbonising the country’s energy sector.

Ensuring there is a brighter, greener, and more sustainable future ahead for the country, region and world.