The Ministry of Energy of Azerbaijan, in collaboration with the European Bank for Reconstruction and Development (EBRD), has initiated the nation's inaugural renewable energy auction, marking a significant milestone in Azerbaijan's green energy journey.
The auction focuses on a 100-megawatt (MW) solar power plant project located in Gobustan, aiming to catalyze the country's transition towards sustainable energy sources.
Prospective bidders are invited to participate by accessing the public call for applications on the ministry's website, with the Request for Qualification Documentation available from April 30. Interested parties are required to submit their Statements of Qualification by June 14.
The launch of the auction aligns with Azerbaijan's ambitious sustainability goals, particularly as the nation prepares to host the United Nations COP 29 climate change conference in Baku later in 2024. Azerbaijan has pledged to elevate the share of renewable energy in its electricity-generation capacity to at least 30% by 2030, signaling a commitment to unlocking its green energy potential through private investment in utility-scale renewables.
In recent years, the Azerbaijani government has implemented various reforms, developed strategic initiatives, and enacted legislation aimed at attracting private-sector investment in green energy. These efforts are geared towards fostering an environment conducive to sustainable development and renewable energy deployment.
The EBRD has played a pivotal role in supporting Azerbaijan's transition to renewable energy, offering assistance in developing the requisite legal and regulatory framework for competitive procurement in the renewable energy sector. Aida Sitdikova, Head of Energy Eurasia for the Middle East and Africa in the EBRD's Sustainable Infrastructure Group, underscored the significance of Azerbaijan's move towards renewable energy auctions, emphasizing its potential to diversify and bolster the sustainability of the nation's energy sector.
Sitdikova expressed gratitude to the Ministry of Energy, the Azerbaijan Renewable Energy Agency, and all stakeholders involved in driving forward this transformative initiative.
