Will Azerbaijan develop renewables in 2021?

In early 2021, the president of Azerbaijan reinforced the country’s determination to develop renewables in the order “Azerbaijan 2030: National Priorities for Socio-economic Development.”

When did Azerbaijan adopt a state program?

Already in 2004 Azerbaijan adopted the State Program on the Use of Alternative and Renewable Energy Sources in Azerbaijan. The program envisaged the steps required to improve the regulatory framework for renewable energy.

How many MW will Azerbaijan generate in 2023?

For this purpose, it is planned to create a total of 1,500 MW of new generation capacities, including 440 MW in 2023, 460 MW in 2023–2025, and 600 MW in 2026–2030, at the expense of renewables. Already in 2004 Azerbaijan adopted the State Program on the Use of Alternative and Renewable Energy Sources in Azerbaijan.

How are foreign investments protected in Azerbaijan?

Foreign investments are also protected by approximately 50 bilateral investment treaties that Azerbaijan has ratified.

Is Azerbaijan a good destination for international investors?

Azerbaijan, a historic exporter of oil and gas, is now on a path toward developing its renewable energy resources. With incentivizing regulations in place and a high potential for renewables, Azerbaijan appears to be focused on increasing its attractiveness as a destination for international investors.

What is Azerbaijan's Nationally Determined Contribution?

According to Azerbaijan’s proposed Nationally Determined Contribution submitted under the Paris Agreement in 2017, Azerbaijan targets a 35% reduction by 2030 in the level of greenhouse gas emissions compared to 1990/base year as its contribution to global climate change efforts.