BAKU - Azerbaijan plans to complete 11 solar and wind power plants with a combined capacity of nearly 2 gigawatts by the end of 2027, Energy Minister Parviz Shahbazov said on Wednesday.
Private investment in the projects is expected to exceed $2 billion, while state investment will surpass $600 million, Shahbazov said at the Third National Competition Forum in Baku, according to APA.
The projects form the first phase of Azerbaijan’s renewable-energy expansion. Shahbazov said the country intends to use new competitive auctions for the next phase beginning in 2028.
Nearly 20 large solar and wind projects are now being developed with investors including the United Arab Emirates’ Masdar, Saudi Arabia’s ACWA Power, Britain’s bp and companies from China and other countries, the minister said.
Domestic participation is also growing. Shahbazov cited SOCAR’s role in several green-energy projects and local investors’ work on four plants with a combined capacity of 150 megawatts in Jabrayil and Nakhchivan.
Capacity Target of About 8 Gigawatts by 2032
Shahbazov said the recently commissioned 100-megawatt Gobustan Solar Power Plant was built by China’s Universal International Holdings Limited. The company was selected through Azerbaijan’s first renewable-energy auction, held during the COP29 climate conference in 2024.
Under signed agreements, Azerbaijan aims to develop approximately 8 gigawatts of solar and wind generation capacity by 2032. The Energy Ministry reiterated the same target in September.
The minister said Azerbaijan is using competitive auctions, direct investor selection, state guarantees and other incentives to attract capital to the renewable-energy sector.
Renewable Generation Rises by 1.05 Billion Kilowatt-Hours
Separately, Energy Ministry operating data showed that Azerbaijan produced 21.19 billion kilowatt-hours of electricity from January through September 2026.
Hydropower, wind, solar and other renewable sources generated 4.23 billion kilowatt-hours, an increase of 1.05 billion kilowatt-hours from the same period a year earlier, according to APA.
Wind farms generated 768.7 million kilowatt-hours, solar plants produced 501.5 million kilowatt-hours and hydropower plants generated 2.77 billion kilowatt-hours during the nine-month period.
Azerbaijan exported 301.6 million kilowatt-hours of electricity and imported 170.6 million kilowatt-hours over the same period, the data showed.