Ilham Shaban, head of the Oil Research Center, recently shared insights on Azerbaijan's transition towards green energy production and its implications for the country's economic landscape. In an interview with Ednews, Shaban emphasized Azerbaijan's commitment to maximizing its energy resources to drive economic growth.

Azerbaijan's strategic focus on green energy initiatives, Shaban notes, aims to leverage alternative energy potential and tap into the European market. However, he contends that the development of green energy should be viewed through the lens of Azerbaijan's national interests rather than external perspectives. The primary objective, he asserts, is to convert available resources into capital to foster economic prosperity.

Shaban highlights the significant capital investment in green energy projects, surpassing traditional energy sectors. Despite fluctuations in energy prices, he underscores the imperative to capitalize on current resources to maintain economic momentum. The global prominence of green policies, exacerbated by the COVID-19 pandemic and geopolitical shifts, further underscores the importance of prioritizing green energy investments.

A key aspect of Azerbaijan's green energy strategy involves meeting energy needs in recently liberated territories. Shaban cites the commissioning of large-scale green energy power plants, including the Garadag Gunesh power plant with Masdar, as pivotal steps towards achieving energy self-sufficiency. The proliferation of small hydropower plants in liberated territories underscores Azerbaijan's commitment to harnessing renewable energy sources.

While Azerbaijan actively exports energy to neighboring countries, Shaban acknowledges the dynamic nature of energy markets and the challenges posed by fluctuating demand. Despite these challenges, he advocates for diversifying export markets to ensure long-term stability and economic viability.

In conclusion, Shaban's commentary sheds light on Azerbaijan's energy transition and its strategic implications for economic development. By embracing green energy initiatives and leveraging renewable resources, Azerbaijan aims to secure its energy future while capitalizing on emerging opportunities in global energy markets.