The population of Azerbaijan was 9.76 million and the current gross domestic product (GDP) was $37.85 billion as of 2016. Azerbaijan renewable power market value, which was USD XXX billion in 2016, is expected to grow to USD XXX billion in 2017, at a CAGR of XXX percent. Azerbaijan is a major hydrocarbon producer: the oil and gas sector dominates the economy, accounting for approximately 40 percent of GDP. It is estimated that the country has up to 25,400 MW of renewable electricity generating potential, including 15 GW of wind and 8 GW of solar potential, but these have not been harnessed on a large scale.
Rich in fossil fuel deposits, Azerbaijan’s energy strategy is primarily centered around the country’s successful attainment of investment from world oil and gas majors in its oil and gas upstream sector. Azerbaijan has improved the security of electricity supply over the past decade due to major investment in modernization of electricity generation and networks as well as replacement of aged infrastructure. The country has also prioritized renewable energy developments in recent years.
Azerbaijan has good renewable energy resources. The wind, which blows more than 250 days per year and may generate 2.4 billion kWh of electricity annually, is the country’s preferred option because of its lower cost, environmental soundness and unlimited availability. There is a great potential to use wind energy, particularly on the coastline and offshore, which is now recognized in official circles. Estimates for the technical capacity for wind power range from 800 to 4,500 MW upwards according to different sources.
The country’s main strategy to meet the growing need of power is to reduce the energy dependency by increasing the energy efficiency, increased use of renewable resources and connecting to the power infrastructure of Commonwealth Independent States (CIS).
- Snapshot of the country’s renewable power sector across parameters - country overview, current power and renewable power market status, electricity market structure, key issues, future plans and strategies to meet increasing power demand, and way forward.
- Statistics for cumulative and annual installed renewable power generation capacity of from 2012 to 2017.
- Statistics for cumulative and annual revenue of renewable power plants from 2012 to 2017.
- Break-up by power generation technology, including thermal, hydro, renewable and nuclear
- Data on key issues witnessed in the Azerbaijan renewable power sector.
- Information on future plans and strategies to meet increasing power demand.
- Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s renewable power sector
- Facilitate decision-making based on strong historic and forecast data
- Develop strategies based on the latest regulatory events
- Position yourself to gain the maximum advantage of the industry’s growth potential
- Identify key partners and business development opportunities
1.1 Research Methodology
2 EXECUTIVE SUMMARY
3 AZERBAIJAN RENEWABLE POWER MARKET IN 2017
3.1 Country Overview
3.2 Current Status of Renewable Power Market in Azerbaijan
3.2.6 Tidal and Wave
3.3 Key Issues
3.4 Investment Trends and Development Roadmap to Meat Increasing Power Demand
3.5 Cumulative (CAGR) Installed Renewable Power Capacity and Revenue
3.6 Annual Installed Renewable Power Capacity and Revenue
3.7 Support Schemes
4 CONCLUSIONS AND RECOMMENDATIONS
5 LIST OF ABBREVIATIONS
Chart 1: Share of Renewable Power (Solar, Wind, Biomass, Hydro and Geothermal) from Total Installed Power Generation Capacity in Azerbaijan in 2016
Chart 2: Azerbaijan Total Annual Electricity Consumption (in TWh) 2000 ÷ 2016
Chart 3: Azerbaijan Power Generation Capacity Breakdown by Source (Fuel) Type in 2016 (incl. Renewables)
Chart 4: Structure of Electricity Power Market in Azerbaijan
Chart 5: Cumulative (CAGR) Installed Renewable Power Capacity (Solar, Wind, Biomass, Hydro and Geothermal) in Azerbaijan (in MW) 2012 ÷ 2017, including forecast
Chart 6: Cumulative (CAGR) Revenue of Renewable Power Plants (Solar, Wind, Biomass, Hydro and Geothermal) in Azerbaijan (in Millions USD) 2012 ÷ 2017, including forecast
Chart 7: Annual Installed Renewable Power Capacity (Solar, Wind, Biomass, Hydro and Geothermal) in Azerbaijan (in MW) 2012 ÷ 2017, including forecast
Chart 8: Annual Revenue of Renewable Power Plants (Solar, Wind, Biomass, Hydro and Geothermal) in Azerbaijan (in Millions USD) 2012 ÷ 2017, including forecast