“We will see that our target to have two gigawatts of renewables by the end of 2027 is absolutely realistic. This is only the beginning,” said President of Azerbaijan Ilham Aliyev as he addressed the opening of the 29th International Caspian Oil & Gas Exhibition - Caspian Oil & Gas and the 12th Caspian International Power and Green Energy Exhibition - Caspian Power as part of the Baku Energy Week at the Baku Expo Center.
“By the way, in the liberated areas of Karabakh and East Zangezur, we have a huge hydropower potential, and since the territory was liberated in November 2020, we have already inaugurated hydropower stations with a total capacity of 270 megawatts. Within three to five years, this figure will reach 500 megawatts. So, one gigawatt of renewables will save us roughly half a billion cubic meters of natural gas, which the market needs and will need,” the head of the state added.
