Moody’s Reports Azerbaijan and Region Could Mitigate Energy Transition Risks Through Renewables and Investment

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On September 2, Moody's highlighted that increasing the regional flow of renewable energy could help Azerbaijan mitigate risks associated with the energy transition. The agency noted that rising regional trade, improved interconnectivity, and ongoing energy sector reforms are expected to attract investment in renewable energy, primarily solar and wind, enhancing energy security and reducing social risks. For hydrocarbon-producing countries such as Azerbaijan, Kazakhstan, and Uzbekistan, greater regional renewable energy flows would help mitigate carbon transition risks by accelerating the adoption of cleaner energy sources.

Existing power generation constraints are driving a focus on regional interconnectedness and the development of renewable energy potential, including wind power in the north and solar power in the south. Intergovernmental plans are underway to establish a Caspian Green Energy Corridor to facilitate cross-border electricity trade among Azerbaijan, Kazakhstan, and Uzbekistan.

Source: Wikipedia