Azerbaijan, WB eye offshore wind roadmap [PHOTO]

Azerbaijan, WB eye offshore wind roadmap [PHOTO]

January 25, 2022 10:59 (UTC+04:00)

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By Ayya Lmahamad

The World Bank and Azerbaijan discussed a draft of the country’s offshore wind roadmap.

The meeting took place during a working visit to Baku by Azerbaijani Energy Minister Parviz Shahbazov and a World Bank mission led by Chief Energy Expert and Task Force Leader Yasemin Oruj.

The parties discussed various scenarios for using the vast wind energy potential in the Azerbaijani sector of the Caspian Sea. They discussed capabilities that could be developed in specific areas where pilot and commercial projects could be implemented.

It was emphasized that the roadmap will help attract private investment in the field and increase energy exports in the future.

The participants were informed about the measures that would be taken at each stage, as well as the world experience in this field and the integration of renewable energy sources in the energy market and the electricity network.

In addition, the parties discussed prospects and directions for future cooperation between the ministry and the World Bank.

Azerbaijan’s large number of sunny and windy days creates many opportunities for the development of alternative and renewable energy sources in the country. The country’s renewable energy potential is estimated at 26,940 MW, including 3,000 MW of wind power, 23,040 MW of solar power, 380 MW of bioenergy potential and 520 MW of mountain river potential.

It should be noted that Azerbaijan joined the World Bank in 1992. Since then, the bank has financed more than 50 projects with a total commitment of $4.4 billion. It has entered into economic cooperation with Azerbaijan to help in the development of institutional capacities and the effective management of oil reserves. The World Bank has always supported large-scale reforms in Azerbaijan.

Ayya ​​Lmahamad is the journalist of AzerNews, follow her on Twitter: @AyyaLmahamad

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Jack C. Nugent