By 2030, the pact hopes to treble the region’s renewable capacity and hasten the energy transition.
To further the growth of onshore and offshore wind energy in Azerbaijan and the Caspian Sea region, WindEurope and the Azerbaijan Renewable Energy Agency have inked a memorandum of understanding (MOU).
The pact intends to triple renewable capacity by 2030 with a specific focus on accelerating the region’s energy transformation.
By 2030, the Azerbaijani government wants renewable energy to account for thirty percent of all installed electrical capacity in the nation.
An important feature of the project is the idea to export wind energy to Europe via a green energy corridor connecting the Caspian Sea to the EU.
This is made possible by an agreement in place with Georgia, Romania, and Hungary for the construction of a subsea cable beneath the Black Sea.
The growth of wind energy has a significant economic impact; in Europe and its surrounding areas, every new turbine generates about €13m ($14.11m) in economic activity.
WindEurope and the Azerbaijan Renewable Energy Agency have pledged to working together in a number of areas under the terms of the MOU.
Instead of concentrating only on price, they will take into account qualitative factors like the preservation of biodiversity, cybersecurity, and the creation of jobs in wind energy projects.
The MOU also calls for collaboration in grid development, maritime spatial planning, and expediting permitting procedures for effective wind farm installation.
The two sides will collaborate to source components for wind energy, with a focus on regional and European markets.
The construction of a cable linking Azerbaijan to Georgia, Romania, and Hungary is part of the prioritized development of the Caspian-EU green energy corridor, which intends to interconnect the Azeri electrical grid with the larger European grid.
WindEurope CEO Giles Dickson stated: “WindEurope is honoured to sign this MOU with Azerbaijan to help them build out their wind, both onshore and offshore, in the Caspian.
“It is great they want to build so much, and that they want to export the energy to Europe through the planned Black Sea cable. It is a win-win collaboration.”
Source WindEurope
