BAKU, Azerbaijan, December 11. Azerbaijan,
Uzbekistan and Kazakhstan will continue leading the regional energy
transition in 2026, Trend reports via Moody’s.


“Growing intraregional trade and strong economic growth are also
driving increasing demand for energy, spurring further economic
diversification and integration by unlocking the region's vast
potential for renewables and improving regional energy
connectivity. We expect Azerbaijan, Uzbekistan and Kazakhstan to
continue leading this shift in 2026 as they develop competitive
electricity markets and attract private investment in renewable
energy. We also expect hydropower-rich countries like Tajikistan
and the Kyrgyz Republic to scale up investments in dam projects,
supported by IFIs, to expand electricity exports to the region,”
Moody’s said in its latest report.


Meanwhile, the rating agency notes that hydrocarbon resources
will continue to underpin economic activity and wealth accumulation
in Kazakhstan and Azerbaijan.


Moreover, analysts from Moody’s point out that in particular,
the transport, logistics and construction sectors of sovereigns
both in Central Asia and the Caucasus will continue to benefit from
increasing activity along the Middle Corridor, a strategic trade
and transit network linking China to Europe.


The data from Azerbaijan’s energy ministry reveals that
technical potential of the country’s onshore renewable energy
sources is 135 GW and offshore is 157 GW. The economic potential of
renewable energy sources is estimated at 27 GW, including 3 000 MW
of wind energy, 23 000 MW of solar energy, 380 MW of bioenergy
potential, 520 MW of mountain rivers.







Power plants with a total capacity of 1829.6 MW operate in our
country on renewable energy sources. 65 hydroelectric power plants
with a total capacity of 1443.5 MW, 5 wind power plants of 63.5 MW,
9 solar power plants of 278.2 MW, a BIO power plant of 37 MW and 3
hybrid power plants of 7.3 MW are being operated. Renewable energy
sources account for about 18.8% of the total energy capacity.


By 2027, it is planned to implement green energy projects with a
total capacity of more than 2 gigawatts. Among these projects, wind
and solar plants implemented jointly with local and international
partners are of particular importance:


Among major green energy initiatives are Garadagh Solar Power
Plant, Khizi-Absheron Wind Power Plant, Shafag Solar Power Plant,
Mega project, Gobustan Solar Power Plant, Ufug and Shams solar
power plants, Floating solar panels project and others.