WindEurope has signed a memorandum of understanding (MOU) with the Azerbaijan Renewable Energy Agency to enhance the development of onshore and offshore wind energy in Azerbaijan and the Caspian Sea region.
The agreement aims to expedite the energy transition in the area, with a particular focus on tripling renewable capacity by 2030.
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The Government of Azerbaijan has set a target for renewables to constitute 30% of the country’s total installed electricity capacity by 2030.
A significant aspect of the initiative is the proposed export of wind energy to Europe through a Caspian-EU green energy corridor, facilitated by an MOU already in place with Georgia, Romania and Hungary for a subsea cable under the Black Sea.
The economic impact of wind energy development is substantial, with each new turbine in Europe and its neighbourhood generating approximately €13m ($14.11m) in economic activity.
Under the MOU, WindEurope and the Azerbaijan Renewable Energy Agency have committed to collaboration in a range of domains.
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By GlobalDataThey will consider qualitative criteria such as biodiversity protection, cybersecurity and job creation in wind energy projects, rather than focusing solely on cost.
The MOU also includes cooperation in maritime spatial planning, grid development and streamlining permitting processes for efficient wind farm construction.
Both parties will work together on sourcing wind energy components, with an emphasis on local and European opportunities.
The development of the Caspian-EU green energy corridor is a priority and aims to integrate the Azeri electricity grid with the wider European grid by installing a cable connecting Azerbaijan to Georgia, Romania and Hungary.
WindEurope CEO Giles Dickson stated: “WindEurope is honoured to sign this MOU with Azerbaijan to help them build out their wind, both onshore and offshore, in the Caspian.
“It is great they want to build so much, and that they want to export the energy to Europe through the planned Black Sea cable. It is a win-win collaboration.”
