Azerbaijan has signed a memorandum of understanding (MoU) with the World Bank’s International Finance Corporation (IFC) to cooperate on the use of offshore wind energy.
BVG Associates (BVGA) are working with the World Bank and the Government of Azerbaijan to assess the Azerbaijan offshore wind potential. Our work will develop of a roadmap for offshore wind, which is one of the key objectives of the MoU. Other objectives of the MoU include the promotion of renewable energy use and supporting private sector participation to improve the energy sector’s financial sustainability and efficiency.
As Minister of Energy Parviz Shahbazov said: “It is necessary to use the offshore wind energy potential to ensure that the renewable energy has a significant position in production and consumption.”
BVGA will work with the World Bank team to establish the best locations for Azerbaijan offshore wind. The ranking of suitable wind energy areas will identify preferred development areas, including a demonstration project. The roadmap will combine geospatial analysis, cost modelling and economic analysis, supply chain and infrastructure assessment, consideration of social and environmental impacts, and detailed industry and stakeholder consultation.
BVGA will lead the delivery of the roadmap through 2021 with valuable technical support from Atkins and Encotec in Azerbaijan.
This work looking at the Azerbaijan offshore wind potential follows BVGA leading the development of a roadmap for offshore wind in Vietnam in 2020, also on behalf of The World Bank and delivered in partnership with Atkins.
Neil Douglas is leading our work on this project.
Our work in Azerbaijan was also covered in Offshorewind.biz: BVG Associates to Gauge Offshore Wind Potential in Azerbaijan