Azerbaijan, in collaboration with the World Bank and the International Finance Corporation (IFC), has presented a roadmap outlining the potential for installing 7GW of offshore wind power by 2040. The Offshore Wind Roadmap provides a strategic vision, recommended actions, and scenarios for realizing Azerbaijan's offshore wind potential.
Low Growth Scenario:
Under the low growth scenario, Azerbaijan foresees a moderate expansion of offshore wind, resulting in 1.5GW of fixed foundation offshore wind capacity by 2040. This capacity would contribute 7% of the country's electricity supply, supporting its decarbonization goals.
High Growth Scenario:
The high growth scenario presents a more ambitious plan, envisioning the installation of 7.2GW of offshore wind capacity by 2040. This significant expansion would make up 37% of Azerbaijan's electricity supply, driving the country's renewable energy transition.
Untapped Potential:
Both scenarios represent only a fraction of Azerbaijan's vast technical potential for offshore wind resources. The country possesses significant untapped capacity that can be harnessed to further boost renewable energy generation.
Benefits for Azerbaijan:
According to Elnur Soltanov, Deputy Minister of Energy for the Republic of Azerbaijan, offshore wind presents a unique opportunity for the country. Azerbaijan can leverage its expertise and workforce from the oil and gas sector to transition to a new industry, aligning with decarbonization goals and fostering economic diversification. Offshore wind development would contribute to Azerbaijan's sustainable future and the well-being of its citizens.
A Path to Decarbonization and Economic Prosperity:
The Offshore Wind Roadmap outlines a strategic vision for Azerbaijan's energy transition, emphasizing the potential of offshore wind to play a crucial role. By leveraging its resources and knowledge, Azerbaijan can simultaneously achieve decarbonization objectives and foster economic growth. Offshore wind power offers a pathway to a prosperous and sustainable future for the country.
Azerbaijan's Offshore Wind Roadmap highlights the significant potential for offshore wind energy in the country, projecting a capacity of 7GW by 2040. With both low and high growth scenarios, Azerbaijan aims to tap into its offshore wind resources to achieve decarbonization targets and drive economic diversification. By embracing offshore wind, Azerbaijan can build on its expertise in the oil and gas sector and pave the way for a prosperous and sustainable future for its citizens.
