Rovshan Najaf: Three "green" corridors can provide transmission of up to 10 GW of electricity

Azerbaijan is actively forming three major "green" energy corridors: Caspian - Black Sea - Europe, Azerbaijan - Turkey - Europe, as well as Central Asia - Azerbaijan - Europe.

As BAKU.WS reports with reference to Report, this is stated in an article by Rovshan Najaf, the president of the State Oil Company of Azerbaijan (SOCAR), published on the World Economic Forum website.

According to R. Najaf, the signing of the Strategic Partnership Agreement on the development and transfer of "green" energy between Azerbaijan, Georgia, Romania and Hungary in Bucharest in 2022 was an important step towards forming a "green" energy corridor to Europe.

The president of SOCAR noted that national energy transition strategies can bring regional benefits in the field of decarbonization that extend beyond individual countries. Given its strategic geographical location, existing infrastructure, and developed energy partnerships, Azerbaijan, in his opinion, is in a unique position to become a link between the Caspian region, Central Asia, and Europe.

"Together, the three 'green' energy corridors will potentially be able to transmit up to 10 GW of renewable electricity, strengthening Azerbaijan's role as a future hub for cross-border clean energy transmission," emphasized the president of SOCAR.

R. Najaf noted that the world is experiencing a turning point in the development of the global energy landscape. In the context of striving for a low-carbon future, the energy transition is becoming not only an environmental necessity but also a factor of economic transformation. At the same time, according to him, traditional energy producers with infrastructure, expertise, and investment opportunities continue to play a key role.

"Azerbaijan demonstrates how an economy based on hydrocarbon production can promote decarbonization while ensuring energy security through the development of renewable generation, modernization of transmission networks, and the implementation of 'green' reconstruction throughout the country," he writes.

The president of SOCAR also emphasized that against the background of global economic and geopolitical challenges, energy security and climate resilience have become key priorities for Azerbaijan. This approach, in his opinion, allows for the integration of renewable energy sources without compromising the reliability of the energy system and macroeconomic stability.

R. Najaf recalled that the goal of a "clean environment and green growth" is enshrined in the "Azerbaijan-2030" strategy. As part of this policy, the Energy Efficiency Fund will provide loans, grants, and subsidies for projects aimed at reducing environmental impact and improving the efficiency of the energy sector.

"While continuing to use the potential of the hydrocarbon industry, Azerbaijan is simultaneously increasing renewable generation. The country has been a net exporter of electricity since 2007, and by 2023 the generation volume reached 29.3 billion kWh, which is 25.5% higher than the level of a decade ago.

According to the 2016 Strategic Roadmap, the government plans to diversify the energy balance and increase the share of renewable energy sources. The technical potential of land-based renewable energy sources in Azerbaijan is estimated at 135 GW, offshore - at 157 GW. The goal is to increase the share of renewable energy in electricity generation to almost 40% by 2030," R. Najaf indicated.

He recalled that over the past five years, a number of large renewable energy facilities have been commissioned in the country, including the 230 MW "Garadagh" solar power plant - the largest in the Caspian region.

"Hydropower is actively developing in Karabakh and Eastern Zangezur, where 32 stations with a total capacity of 270 MW are already