Azerbaijan has promising potential in the field of renewable energy sources, Carolyn Gilbert, Assistant General Counsel at BP Azerbaijan said during the Caspian Technical Conference held in Baku on October 16-18, Trend reports.
Gilbert noted that Azerbaijan has great potential for the wind energy development. She said that the wind speed on the Absheron Peninsula reaches 8-9 meters per second.
As to the country's potential in solar energy, the BP representative emphasized that there is also a promising potential (4 kilowatt-hours per square meter a day).
Gilbert added that BP is developing digital platforms in this sphere and some of them can also be used in Azerbaijan.
Gilbert further noted that Azerbaijan intends to reduce greenhouse gas emissions by 35 percent by 2030 within the framework of the Paris Agreement, and BP is ready to support the transformation of the country's energy sector.
Note that the oil and gas industry in the Caspian region and at a global level is the main focus of the Caspian Technical Conference.
The theme of the conference is digital transformation, which is reflected in thematic panel sessions and technical sessions that bring together industry experts, representatives of regulatory bodies and innovative companies as well as students.
Presently, Azerbaijan implements a number of measures for further development of alternative energy sector, aimed at reducing its dependency on oil and gas. The favorable geographic location and climatic conditions allow the widespread use of environmentally friendly alternative energy sources in Azerbaijan.
Apart from BP, the Energy Ministry has also signed memorandums of understanding with TOTAL and Equinor on alternative energy cooperation.
The country is currently working on the new draft law on alternative energy sources jointly with Norwegian company DNV GL.
Today, the share of electricity generation from alternative energy sources in Azerbaijan stands at 18 percent, the largest part of which accounts for hydroenergy.
According to the Market Analysis Azerbaijan 2019, expansion of renewable electricity generation is estimated at 430 MW in 2018-2020, 840 MW in 2021-2025, and 925 MW in 2026-2030. The share of renewables in the total power generation is expected to be 15 percent by 2020, 25-30 percent by 2025 and 35-40 percent by 2030.