Azerbaijan to commission 11 solar and wind plants by end-2027, minister says

Azerbaijan expects to complete the commissioning of 11 solar and wind power plants with a combined capacity of about 2 gigawatts by the end of 2027, as the first phase of renewable energy development. Energy Minister Parviz Shahbazov said this on Wednesday at the third National Competition Forum organized by the State Agency for Antimonopoly and Consumer Market Control. The report is datelined Baku, October 14.

Private investment in these projects is expected to reach $2 billion, while public investment is projected at $600 million, the minister said. Shahbazov added that agreements have been signed to develop solar and wind capacity of approximately 8 gigawatts in Azerbaijan by 2032.

Shahbazov noted that 20 gigawatts' worth of solar and wind projects are currently being implemented with companies from the United Arab Emirates, including Masdar, Saudi Arabia's ACWA Power, the UK's BP, and companies from China and other countries. Local companies are also expanding their participation, including SOCAR's involvement in green energy projects and four power plants with a combined capacity of 150 megawatts being developed by local investors in Khachmaz and Nakhchivan. Competitive auctions are also planned from 2028 as part of the next phase of renewable energy development.