Azerbaijan sets minimum investment threshold for renewable energy projects

Azerbaijan has set a minimum investment threshold of 30 million manats ($17.6 million) for electricity generation projects using renewable energy sources under a state purchase guarantee mechanism.

The decision was signed by Prime Minister Ali Asadov and published on Thursday.

According to the government, the new regulation is aimed at encouraging larger-scale private sector participation in renewable energy development and increasing the share of green energy in the country’s power generation mix.

Azerbaijan is seeking to diversify its energy sources and reduce dependence on fossil fuels in line with its 2030 sustainable development goals.