Azerbaijan is set to invest $2.8 billion in the construction of eight solar and wind power plants, with plans for completion by 2027. The announcement was made by Energy Minister Parviz Shahbazov in a recent official statement.
The initiative aims to establish industrial-scale renewable energy facilities with a total capacity of approximately 2 gigawatts, marking a significant milestone in Azerbaijan’s transition to green energy. Shahbazov highlighted that these plants are expected to produce 5.3 billion kWh of electricity over three years, reducing greenhouse gas emissions by 2.5 million tons and saving 1.2 billion cubic meters of gas.
Azerbaijan’s renewable energy agenda is gaining momentum under the theme of the "Year of Solidarity for a Green World" and the COP29 framework. Shahbazov mentioned that the inaugural renewable energy auction results will be announced during COP29, alongside the launch of the 240 MW Shafag Nuclear Power Plant (NPP) project.
He also noted the ongoing construction of the 240 MW Khizi-Absheron wind farm, set for completion next year, with components for 40 wind turbines already on-site. Additionally, he emphasized the importance of hydropower plants in Karabakh and East Zangezur, which currently meet their electricity needs through renewable sources and contribute surplus energy to the national grid.
Azerbaijan's goal is to evolve into a nation of “green growth” by establishing “green energy zones” by 2026. This strategic vision, driven by President Ilham Aliyev, aims for zero emissions and could serve as a model for other countries. Currently, the region has 32 hydroelectric plants generating over 600 million kWh of green energy annually, significantly reducing natural gas consumption and carbon emissions.
Shahbazov also outlined plans to construct an additional 28 hydropower plants under the “National Strategy for the Efficient Use of Water Resources for 2024-2027” with six small hydropower plants already under construction.
Comments