Azerbaijan launches first renewables auction

Renewable energy
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The Ministry of Energy of Azerbaijan, with the support of the European Bank for Reconstruction and Development (EBRD), has announced the country’s first renewable energy auction for a 100 megawatt solar power plant project in Gobustan, reports.

The public call for applications is accessible on the Ministry’s website. Interested parties can ask for the Request for Qualification Documentation from 30 April and are invited to submit their Statements of Qualification by 14 June.

As Azerbaijan prepares to host the United Nations COP 29 climate change conference in Baku in November 2024, the country has committed to increasing the renewable energy share of its installed electricity-generation capacity to at least 30 per cent by 2030, and to unlocking its green energy potential through private investment in utility-scale renewables.

In recent years, the government has undertaken reforms, developed strategies and implemented legislation to attract green private-sector finance. In line with the country’s green agenda, the EBRD has supported the authorities in developing the necessary legal and regulatory framework for introducing competetive procurement for renewable energy, for example through inputs towards a new Renewable Energy Law.

Aida Sitdikova, Head of Energy for Eurasia, Middle East and Africa in the EBRD’s Sustainable Infrastructure Group, said: “Azerbaijan’s decision to introduce renewables auctions is a big step towards a more diversified and sustainable energy sector, and we are proud to play a key role in this process. We would like to thank the Ministry of Energy, the Azerbaijan Renewable Energy Agency under the Ministry of Energy and all stakeholders who have worked towards this.”

The EBRD is supporting Azerbaijan’s decarbonisation plans. The Bank has been instrumental in pioneering green projects there, including the financing of a first utility-scale solar plant in Garadagh, and the country’s largest wind farm in Absheron and Khizi.

To date, the EBRD has invested more than €3.7 billion in 189 projects in Azerbaijan.

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