Azerbaijan Unveils Ambitious Energy Projects to Drive COP28 Commitments
Key Ideas
  • Azerbaijan proposes three energy projects with five key components to meet COP28 commitments, emphasizing renewable energy and energy efficiency enhancement.
  • Initiatives like the Green Energy Pledge focus on establishing green energy corridors to transmit renewable energy efficiently over long distances.
  • The Global Pledge on Green Energy Storage and Grids aims to significantly increase energy storage capacity and modernize energy grids on a global scale.
  • The COP29 Hydrogen Declaration highlights the role of hydrogen in achieving zero emissions, enhancing sustainability across industries and promoting renewable energy utilization.
Azerbaijan's Minister of Energy, Parviz Shahbazov, introduced three energy projects at a ministerial dialogue on COP29 energy initiatives in Baku. The projects aim to drive COP28 commitments by focusing on renewable energy capacity tripling, energy efficiency doubling, and boosting investment in energy infrastructure. The Green Energy Pledge aims to establish green energy corridors for efficient transmission of renewable energy from remote locations to consumption centers, emphasizing regional cooperation and financial sustainability. The Global Pledge on Green Energy Storage and Grids targets a six-fold increase in energy storage capacity by 2030, promoting investments in storage systems and modernization of energy grids worldwide. Additionally, the initiative plans to add or modernize 25 million kilometers of networks by 2030 and 65 million kilometers by 2040. Moreover, Minister Shahbazov stressed the importance of the COP29 Hydrogen Declaration, highlighting hydrogen's potential in achieving a zero-emissions future. The declaration aims to enhance environmental sustainability in various sectors and maximize renewable energy utilization, emphasizing hydrogen standards and certification to drive the energy transition towards a greener future.
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