Energy Minister Parviz Shahbazov participated in an online format at the Belarusian Energy Transition Forum, which was held in China under the theme "Joint Promotion of Energy Transition for a Common Green Future."
Speaking at the opening ceremony, the minister stressed that economic and technological realities are as important factors as political decisions in implementing the energy transition, according to AAPA-Economics from the Energy Ministry.
It has been reported that the current transition aims to completely alter the energy fundamentals of the world economy in the short term: "Halbuki's first energy crisis has shown that any successful energy transition should take into account all three elements of energy trilemma consisting of safety, availability and sustainability. As well as speeding up the energy transition, we need investments in the existing energy system, a clear view and a strong partnership, and we need to support a fair and inclusive energy transition that can ensure environmental protection and energy security. '
The Energy Minister noted that Azerbaijan, which plays a strategic role in energy security in the region and Europe, has implemented a fast "green energy" course along with the development of the oil sector by reducing emissions. As a result of President Ilham Əliyev's high political will and clear strategic view of the Republic of Azerbaijan, "green energy" has achieved a crucial status in our country's social-economic development, clean environment and "green growth" by 2030: "We are currently cooperating with international energy companies, including China Gezhouba Group Overseas Investment, on more than 28 QVt of "green energy" projects. More than 2027 GVt of these "green energy" forces are scheduled to be exploited by 3, resulting in a more than 37% share of renewable energy sources in our country's electricity production. We also have plans to implement five more GVt projects by 2030."
It has been reported that all of this will contribute to Azerbaijan's transformation into an exporter in various directions and to the development of our European partners' energy supply through the Xerxes-AI Green Energy Station. The talk also expressed confidence that green energy cooperation between Azerbaijan and China, the participants of the One Belt, One Road Project, partners trying to implement the Middle Wall, friendly countries, will be expanded further.