Azerbaijan ranks among high-potential nations in renewable energy, the local expert Khalid Karimli told Trend.
He predicts that the country's renewable energy generation will reach ten gigawatts in the next few years.
"This will allow us to save gas needed to generate energy and reroute it for export. An agreement was also made on sending power to Türkiye and numerous European nations via a route that will be laid along the bottom of the Black Sea," said the expert. "As a result of these efforts, a new export direction may emerge after oil and gas exports. However, significant expenditures in infrastructure are necessary."
He noted that last year, power production was the country's leading non-oil sector.
"Over $402 million in electricity was exported, accounting for 12.2 percent of total non-oil exports. In 2022, we exported $121.6 million in power. As a result, electricity exports grew by over 3.3 times. Our country mostly sends power to Türkiye and Georgia," Karimli explained.
"Last year, the largest solar power plant in the Caspian region and the CIS was built in Garadagh. The construction was funded jointly by the Abu Dhabi Development Fund, the Asian Development Bank, the European Bank for Reconstruction and Development, and the Japan International Cooperation Agency (JICA)," added the expert.
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