Investment in Azerbaijan’s oil and gas sector is forecast at 7.933 billion manats in 2027, while wind and solar power generation is projected at 3,009.3 gigawatt-hours and expected to increase by about 46.5% by 2030.
The figures are included in documents accompanying Azerbaijan’s draft 2027 state budget, published by APA-Economics, according to Vesti Baku.
Investment Expected to Peak in 2028
Oil and gas investment is forecast to reach 8.3312 billion manats in 2028, the highest level in the period covered by the projection.
The forecast calls for 8.2133 billion manats in investment in 2029 and 7.5032 billion manats in 2030. The figures are budget projections rather than investments that have already been made.
Wind and Solar Generation Set to Rise
Electricity generation from wind and solar plants is projected at 4,384.6 gigawatt-hours in 2028, 4,414.3 gigawatt-hours in 2029 and 4,408.6 gigawatt-hours in 2030.
Most of the projected increase in renewable generation is expected in 2028. By 2030, output is forecast to be about 1,399.3 gigawatt-hours higher than the 2027 projection.