Oval Useful news from Azerbaijan and Caucasus
Azerbaijan’s Nagorno-Karabakh has a potential to become a renewable energy haven in the region, UK’s ABC Money news agency has reported.
In an article “How Azerbaijan is Transforming Karabakh into a Renewable Energy Hub”, the agency noted that the implementation of such renewable energy projects in Nagorno-Karabakh is part of Azerbaijan’s vision to reduce the country’s dependence on electricity generated by fossil fuels.
To date, the renewable energy share in Azerbaijan’s electricity production exceeds 8 percent. However, the country’s energy ministry intends to bring this figure to at least 30 percent by 2030.
“The territories of Nagorno-Karabakh have the capacity to generate more than 4,000 MW of solar energy and up to 500 MW of wind energy. In addition, given that 25 percent of Azerbaijan’s local water resources originate in Nagorno-Karabakh, it is an optimal location for using local rivers in the construction efforts of hydroelectric power plants” the article reads.
It was noted that such power plants would allow Azerbaijan to not only meet its own energy needs but also sell its electricity surplus to the neighboring nations across the Caspian Sea.
It was noted that the international corporations have expressed their interest to join Azerbaijan’s program of boosting the production of green energy. Thus, BP and Azerbaijan are constructing a solar power plant in Nagorno-Karabakh.
“The goal of dramatically increasing green energy production in Azerbaijan is achievable, given that the geographical location of Azerbaijan and its unique conditions are optimal for the development of renewable energy,” the article says.
It should be noted that the country’s Energy Ministry and BP have signed an Implementation Agreement to build a 240MW solar power plant in the liberated Zangilan and Jabrayil regions. The new agreement with BP will help to create a “green energy” zone in Azerbaijan’s liberated territories and is in line with the country’s commitment to reduce carbon emissions by 35 percent by 2030 and BP’s strategy to become a “net zero emissions” company by 2050.
Earlier, President Aliyev stated that by reconstructing generating capacities and power transmission lines, Karabakh will turn into a zone of ‘green energy’. On May 3, the president signed a decree on measures to create a ‘green energy’ zone in the country’s liberated territories. According to the decree, in order to attract a specialized international consulting company to develop an appropriate concept and master plan on the creation of a ‘green energy’ zone in the liberated territories of Azerbaijan, an amount of AZN 2,363,400 ($1,391,040) shall be allocated from the Presidential Reserve Fund envisaged in the country’s state budget for 2021 to the Ministry of Energy.
