Azerbaijan, EU mull expanding Europe's participation in green energy

Azerbaijan and the EU discussed expanding European private sector participation in renewable and green energy projects, power grid development, and energy efficiency at an Azerbaijan–EU round table on clean energy in Brussels, Report informs citing the Ministry of Energy.

The meeting was co-chaired by Minister of Energy Parviz Shahbazov and EU Commissioner for Energy and Housing Dan Jorgensen.

Business opportunities in renewable energy, including wind power, power grid infrastructure development, and energy efficiency improvements, were presented at the meeting.

It was noted that Azerbaijan's plans to increase the share of wind and solar energy to 38.7% by 2030, alongside developing new energy links between Azerbaijan, the South Caucasus and Central Asian countries, Türkiye, and Europe, create opportunities for cooperation with European companies.

Special attention was paid to the Caspian Sea – Black Sea – Europe project. Following the completion of the feasibility study, primary focus is now directed toward attracting potential investors and strategic partners.

Shahbazov urged European companies to actively participate in this and other green energy corridor projects, as well as in the development of renewable energy and energy efficiency.

Jorgensen stated that the technology, equipment, engineering expertise, and investments of European companies can contribute to realizing Azerbaijan's plans in renewable energy and regional connectivity.