Tokyo, 2 September, /AJMEDIA/
In order to be able to satisfy the growing demand, we, of course, need to have a very close cooperation and coordination, President of the Republic of Azerbaijan Ilham Aliyev said addressing the 48th edition of the international Cernobbio Forum, AJMEDIA reports.
“For that purpose, we have already officially launched the dialogue between the EU and Azerbaijan on energy, which will cover not only natural gas, but other segments of the energy market, particularly electric energy, hydrogen and green hydrogen. And this brings us to the third stage of Azerbaijan’s energy strategy, which is the investments in renewable sources of energy. We started this process several years ago, though, as you can understand with those figures which I brought to your attention, we are pretty comfortable with natural gas and with oil and our power stations were both on natural gas and on fuel and also on hydro recourses. But, it was our, how to say, moral commitment to invest in renewables, especially taking into account a huge potential. And there have been already many evaluations of the potential of renewable energy in Azerbaijan. So, only in the Azerbaijani sector of the Caspian Sea, the proven potential is 157 gigawatt of energy. In the territories, which we liberated during the Patriotic War of 2020 in Karabakh and Zangazur, the potential of solar, wind and hydro energy is more than 10 gigawatts and we are already in the process of development of this huge potential. I can tell you than three leading energy companies, one from Saudi Arabia, one from the UAE and one from the United Kingdom already are investing and planning to invest in three renewable power stations of a total capacity of more than 700 megawatts. So that will save us additional gas for export and that will increase our export potential,” the head of state said.
