Renewable Energy Could Reach Up To 38% Of Azerbaijan’s Energy Balance

Jerusalem, 16 June, 2026 (TPS-IL) -- Baku (AZERTAC) – The share of renewable energy sources in Azerbaijan’s energy balance could reach 34-38 percent by 2030, exceeding the 30 percent target.

AZERTAC reports that these words were made by SOCAR Vice President Afgan Isayev during his speech at the session titled “Accelerating Azerbaijan’s Green Transition: Renewable Energy as an Attractive Opportunity for Investment” held within the framework of the 51st Annual Meetings of the Islamic Development Bank (IDB) Group.

According to him, the main concept characterizing Azerbaijan’s energy future is diversification.

“SOCAR has completely renewed the company’s development strategy in 2023, taking steps to transform from a traditional oil and gas company into a more diversified energy company. It was planned to increase the share of renewable energy sources in Azerbaijan’s energy balance to 30 percent by 2030. However, the current development dynamics show that this indicator can increase to 34-38 percent,” he noted.

The Vice President of SOCAR emphasized that Azerbaijan is not giving up its status as a reliable oil and gas exporter: “This is not an ideological, but an economic choice. While continuing to export oil and gas, we are expanding our energy portfolio through renewable energy sources.”