Azerbaijan’s Energy Minister Parviz Shahbazov says the country plans to commission 11 solar and wind power plants with a combined capacity of roughly 2 gigawatts by the end of 2027, the first phase of a broader renewable energy drive.
Energy Minister Parviz Shahbazov made the announcement while speaking at the 3rd National Competition Forum, organized by the State Agency for Antimonopoly and Consumer Market Control. According to Shahbazov, financing for the solar and wind plant projects will come from $2 billion in private investment and $600 million from the state budget.
The minister also said contracts have already been signed for building solar and wind energy infrastructure with a combined capacity of about 8 gigawatts in Azerbaijan by 2032. Work is continuing on additional projects totaling 20 gigawatts, involving partners such as the United Arab Emirates’ Masdar, Saudi Arabia’s ACWA Power, Britain’s BP, and counterparts from China and other countries.
Shahbazov noted that interest from local companies in the renewable energy sector is growing by the day. He pointed to SOCAR’s work on green energy as an example, along with four power plants with a combined capacity of 150 megawatts being built by local investors in Khachmaz and Nakhchivan.
The minister said the second phase of renewable energy development will begin in 2028 and will involve competitive auctions.
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