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    Azerbaijan, WB eye offshore wind roadmap

    January 25, 2022 - AzerNEWS


      By Ayya Lmahamad The World Bank and Azerbaijan have discussed a preliminary draft of the country's offshore wind roadmap. The meeting took place during a working visit to Baku by Azerbaijan's Energy Minister Parviz Shahbazov and a World Bank mission led by Chief Energy Specialist and Head of the Working Group Yasemin Orucu.

      The parties discussed various scenarios for utilizing the vast wind energy potential in Azerbaijan's Caspian Sea sector. They discussed the capacities that could be developed in specific areas where pilot and commercial projects could be implemented.

      It was emphasized that the roadmap will help attract private investment in the field and increase energy exports in the future. The participants were briefed on the steps that would be taken at each stage, as well as global experience in this area and the integration of renewable energy sources into the energy market and power grid.

      Furthermore, the parties discussed the prospects and directions of future cooperation between the ministry and the World Bank. Azerbaijan's large number of sunny and windy days creates numerous opportunities for the development of alternative and renewable energy sources in the country.

      The renewable energy potential of the country is estimated to be 26,940 MW, which includes 3,000 MW of wind power, 23,040 MW of solar power, 380 MW of bioenergy potential, and 520 MW of mountain river potential. It should be noted that Azerbaijan joined the World Bank in 1992. Since then, the bank has financed over 50 projects with a total commitment of $4.4 billion.

      It began economic cooperation with Azerbaijan to assist in the development of institutional capacity and the efficient management of oil reserves. The World Bank has consistently backed Azerbaijan's large-scale reforms.

      -- Ayya Lmahamadis AzerNews' staff journalist, follow her on Twitter:@AyyaLmahamad


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