Investment in 2 GW of renewable energy capacity in Azerbaijan to exceed $2 bln by 2028 - minister

BAKU. June 5 (Interfax) - Azerbaijan plans to commission 2 GW of renewable energy capacity by 2028 with investment of more than $2 billion, Energy Minister Parviz Shahbazov said.

"We plan by the end of 2027 [to commission] 2 GW of green capacity, which will increase the share of renewable energy sources to 33%. Investments in these projects will exceed $2 billion," Shahbazov said at an energy forum in Baku on Wednesday.

He said these plants would generate 5.3 billion kWh of electricity, save 1.2 billion cubic meters of gas and cut emissions by up to 2.5 million tonnes per year.

He said projects to build three renewable energy plants - two solar and one wind - with capacity of 1 GW and investments of about $ 1 billion got underway in Azerbaijan on June 4. "In addition, ground will be broken on two solar power plants in East Zangezur, which BP and Nobel Energy will build," Shahbazov said.