Baku:Azerbaijan's Deputy Energy Minister, Elnur Soltanov, highlighted the country's renewable energy ambitions during panel sessions at the 9th Sustainable Development Goals (SDG) Dialogue. The focus on renewable energy sources is a crucial element of Azerbaijan's strategy in the electricity sector.

According to Azeri-Press news agency, Soltanov revealed that Azerbaijan aims to commission an additional 2 gigawatts of renewable energy capacity by 2027-2028, with plans already underway. He stated that an extra 1 gigawatt is expected to be added by 2030, specifically from wind and solar energy. Currently, renewable energy accounts for approximately 21.5% of Azerbaijan's total installed electricity generation capacity, with a target to increase this to 34% by 2030.

Soltanov also noted Azerbaijan's leadership in both traditional and green energy sectors. He explained that while renewable energy can compete with traditional sources under certain market conditions, challenges remain. The development of 2 gigawatts of capacity requires an estimated $2 billion investment. Masdar, a key partner, is set to develop over 1 gigawatt of solar and wind energy capacity. However, the Azerbaijani state must invest approximately one-fifth of the development cost to enhance its electricity grid.