On June 4, 2024, at the opening of the 29th International Caspian Oil and Gas Exhibition and the 12th Caspian International Energy and Green Energy Exhibition – Caspian Power, held as part of Baku Energy Week, President of Azerbaijan Ilham Aliyev emphasized the importance of green energy. He noted that Baku Energy Week now covers all segments of energy policy, including green energy, and that Azerbaijan is actively developing these technologies. Aliyev also stressed that all international agreements signed by Azerbaijan over the past thirty years have been fully implemented, reaffirming the country’s reliability as a partner in sustainable and green energy, which is especially significant ahead of COP29 in Baku.
“We will see that our target to have two gigawatts of renewables by the end of 2027 is absolutely realistic. This is only the beginning,” Aliyev stated. He highlighted the significant hydropower potential in the liberated areas of Karabakh and East Zangezur, where hydropower stations with a total capacity of 270 megawatts have already been inaugurated since November 2020. This capacity is expected to reach 500 megawatts within three to five years. Aliyev added that achieving one gigawatt of renewables will save roughly half a billion cubic meters of natural gas, which is crucial for meeting market demands.
