Friday, December 2 2022 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Nov 28
Week of Nov 21
Week of Nov 14
Week of Nov 07
Week of Oct 31
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    How much should Azerbaijan invest in offshore wind energy dev’t?

    June 7, 2022 - Trend News Agency


      BAKU, Azerbaijan, June 7. Total investment that Azerbaijan will need in the low growth and high growth scenario for offshore wind energy development stands at $40-$100 million and over US$500 million, respectively, Trend reports with reference to the Offshore Wind Roadmap for Azerbaijan.

      The document was released by the Ministry of Energy of the Republic of Azerbaijan, the World Bank and the International Finance Corporation (IFC).

      Analysis of the low growth scenario envisions a moderate expansion of offshore wind resulting in 1.5GW of fixed foundation offshore wind by 2040, making up 7 percent of the country’s electricity supply under a decarbonization scenario. The high growth scenario outlines a more ambitious expansion with 7.2GW of offshore wind by 2040, making up 37 percent of its electricity supply.

      The table below shows local supply chain investments to facilitate Azerbaijan offshore wind:


      Low growth scenario

      High growth scenario

      Turbine towers

      Upgrade to existing steel fabrication facility for project in 2030 Investment decision by 2028 Cost: US$50-100 million

      Same as low growth scenario


      Upgrade to fabrication yard(s) for project in 2028 Investment decision by 2026 Cost: US$5-30 million

      Investment in monopile factory for project in 2028 Investment decision by 2026 Cost: US$50-100 million

      Installation vessel


      New turbine installation vessel for project in 2031 Investment decision by 2027 Cost: US$150-250 million

      Follow the author on Twitter: @Lyaman_Zeyn


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.