According to the ministry, discussions were held with the support of IFC due to the preparation of a Roadmap for the development of offshore wind energy in Azerbaijan.
As noted Zaur Mammadov, head of the Ministry’s Office, the goal of preparing the roadmap is to identify potentially effective areas for wind energy, their economic viability, network connectivity, possible onshore and offshore environmental impact.
"The parties expressed satisfaction with the level of cooperation between IFC and the Ministry of Energy in securing a phased transition to market relations in the energy sector and the development of renewable energy. A presentation was made by the World Bank Group, representing the world’s wind energy markets, experience of its use, forecasts up to 2030 and support for the development of this sphere," the report said.
The process of developing the roadmap will cover issues such as geographical mapping, identifying zones, conducting analysis in economic, financial, environmental and social aspects, impact assessment, issuing permissions and approvals, creating the regulatory framework, the updating of the transmission system, the study of the supply chain.
The offshore wind energy use will help create new jobs, as well as further opportunities for the development of the country's economy. It’s planned to start work on the project in June 2020, to complete the mission to Azerbaijan in December of the year and to finalize the roadmap in February of 2021.
"The roadmap, which will be prepared jointly with the International Finance Corporation, will contribute to expanding the use of renewable energy sources in Azerbaijan and fulfilling obligations under the Paris Agreement to reduce greenhouse gas emissions by 35 percent by 2030," added the ministry.