BAKU, Azerbaijan, October 28.
The non-oil industry in Azerbaijan grew 1.5 times from 2021 through
2025, Deputy Minister of Economy of Azerbaijan, Samad Bashirli,
said during the 9th Sustainable Development Goals (SDG) Dialogue
held in Baku on Wednesday, Trend’s correspondent reports from the event.
He noted that while hosting COP29, Azerbaijan has updated its
climate commitments and Nationally Determined Contributions (NDCs),
setting more ambitious targets.
According to the deputy minister, the country's continued
economic growth, the expansion of the non-oil sector, and rising
exports are driving a growth in energy demand. Notably, the non-oil
industry rose 1.5 times from 2021 through 2025. This development
necessitates not only the expansion of energy supply but also a
focus on reducing carbon emissions and protecting the
environment.
"Economic growth continues, the non-oil industry is expanding,
and exports are on the rise. Naturally, this leads to an increase
in energy demand. Therefore, expanding the use of alternative and
renewable energy sources is of particular importance," Bashirli
remarked.
He emphasized that Azerbaijan has launched a number of regional
energy projects aimed at meeting growing energy demand and
accelerating the transition to green energy. Green energy
corridors, encompassing the Caspian Sea, the Black Sea, Europe, and
Central Asia, are of significant importance in this regard.
The deputy minister mentioned that the attraction of investments
into renewable energy projects in the country is ongoing. According
to him, the total capacity covered by agreements signed in this
sector has exceeded 8 GW.
Bashirli added that Azerbaijan employs various support
mechanisms to encourage investment in green energy. Within this
framework, investment promotion mechanisms, as well as tax and
customs concessions, are applied to renewable energy projects.
He also highlighted that the Business Development Fund has begun
operations aimed at promoting "green loans." These mechanisms are
intended to enable enterprises to invest in environmentally
sustainable projects and contribute to the development of a green
economy.
The deputy minister also emphasized that the decarbonization of
industry is not limited solely to replacing traditional energy
sources with renewable energy. According to him, increasing the
efficiency of production processes, utilizing resources more
sparingly, and implementing environmentally friendly technologies
are also of great importance.
Furthermore, Bashirli pointed out that technologies facilitating
the reuse of resources and the optimization of production processes
are being deployed in this regard. It is reported that such
initiatives are being implemented at several enterprises, including
SOCAR Carbamide, with the support of the Center for Analysis and
Coordination of the Fourth Industrial Revolution.
The deputy minister stressed that Azerbaijan will continue its
efforts to accelerate the transition to green energy, reduce
industrial emissions, and align economic development with the
principles of environmental sustainability.
