Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTJune 23 (Renewables Now) - The Cabinet of Ministers of Azerbaijan has greenlit an action plan that envisages the creation of a green energy zone in the territories liberated from Armenian occupation in 2020 and includes measures related to the establishment of the Azerbaijan-Turkey-Europe Energy Corridor.
In correspondence with the plan, which covers the period 2022-2026, Azerbaijan, through the Ministry of Energy and power producer Azerenergy ASC, will pursue the construction of wind farms with a combined capacity of 400 MW in the regions of Lachin and Kalbajar.
In addition, a 240-MW solar power station is to be constructed in the Jabrayil region through cooperation between the same parties.
As per the energy corridor, Azerenergy will collaborate with both the ministries of energy and economy to develop the so-called Jabrayil energy hub project in the period 2022-2026.
The action plan also calls for measuring the potential of renewables in the country, the construction of certain hydroelectric power plants, the adoption of requirements for the installation of rooftop solar systems and the use of energy-efficient green technologies in street lighting, as well as the deployment of electric vehicle (EV) charging stations. It is available here (in Azeri).
Earlier this month, UAE-based Masdar announced it will develop 4 GW of wind, solar and green hydrogen projects in Azerbaijan under a wider plan envisaging 10 GW of renewable energy capacity.
Weekly renewables M&A round-up (Jun 27-Jul 1)
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