According to the World Bank and ESMAP, Azerbaijan’s technical offshore wind potential is 157 GW, of which 35 GW is suitable for fixed-bottom projects and 122 GW for floating wind.
In 2022, in cooperation with the World Bank and the International Finance Corporation (IFC), Azerbaijan released its Offshore Wind Roadmap which states the country has the potential to install 7 GW of offshore wind power by 2040 with the right long-term vision, infrastructure development, investment and policies.
There are also already proposals to build offshore wind projects in Azerbaijan.
In January 2023, the State Oil Company of the Republic of Azerbaijan (SOCAR) and the UAE’s Masdar entered into a partnership to develop offshore wind and green hydrogen projects totalling 2 GW in capacity.
In February last year, Azerbaijan’s Ministry of Energy signed an implementation agreement for an offshore wind project with an installed capacity of up to 1.5 GW with Saudi Arabian ACWA Power.
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