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Azerbaijan, UAE, Brazil unite for green energy at climate dialogue [COMMENTARY]

25 May 2024 08:30 (UTC+04:00)
Azerbaijan, UAE, Brazil unite for green energy at climate dialogue [COMMENTARY]
Nazrin Abdul
Nazrin Abdul
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During his participation in the High-Level Segment of the "15th Petersburg Climate Dialogue" in Berlin on April 26, Azerbaijani President Ilham Aliyev unveiled a new initiative for the COP during an interview with "Euronews".

This initiative, known as the "troika", involves a partnership model established between the UAE, Azerbaijan, and Brazil, aimed at enhancing cooperation and continuity among past, present, and future COP presidents.

The primary goal of this partnership is to accelerate action on climate change by supporting the "mission 1.5°C" and advocating for increased efforts across all key areas of the Paris Agreement.

In his comment to Azernews on the issue, MP Vugar Bayramov, an economist, said that the tripartite mechanism is a very successful model in terms of the efficient organization of COP events, and it is undoubtedly expected that this model will be used by other countries in the future.

"The Trinity approach is a new approach. That is, the United Arab Emirates, which held the COP event last year, is a model of joint cooperation between Azerbaijan and Brazil, which will be held this year and next year. This is a rather serious approach, but also a useful one, as it allows both to learn from the positive experience of the previous year, and at the same time it will allow the overall success and results of COP29 to be continued in a more extended way in Brazil. Therefore, this model - the tripartite mechanism is a very successful model in terms of the efficient organization of COP events, and it is undoubtedly expected that this model will be used by other countries in the next period, and the possibilities of using this model are quite large. Of course, it is expected that other steps will be taken according to the current results of this COP29."

The expert noted that the United Arab Emirates is one of the main investors in the green energy sector of Azerbaijan.

"Azerbaijan and the United Arab Emirates are implementing a large number of green energy production projects. Both the United Arab Emirates and Saudi Arabia attract investment. The United Arab Emirates is one of the main investors in the green energy sector of Azerbaijan and provides an opportunity to attract the experience of the Arab Emirates and attract technology innovation, and investment. Therefore, the relations between the two countries are deepening and developing. This, of course, means an opportunity for more useful and effective cooperation within the framework of COP 29."

In recent years, significant investments have been directed towards building and refurbishing energy infrastructure, with a notable surge in interest in alternative energy sectors.

The inauguration of the Garadag Solar Power Station (GES) marks the onset of a new era. As the first station constructed with foreign investment in Azerbaijan, the project is a collaboration with the prestigious "Masdar" company from the United Arab Emirates. Officially opened on October 26, 2023, the 230 MW solar plant stands as the largest in the Caspian region and the CIS, funded by a foreign investment totaling $262 million.

Producing 500 million kilowatt-hours of electricity annually, the station is set to save 110 million cubic meters of natural gas and reduce carbon emissions by 200,000 tons, underscoring Azerbaijan's commitment to green energy and its obligations concerning carbon emissions. With aims to reduce greenhouse gas emissions by 40 percent by 2050 and establish a "zero emission" zone in liberated territories, Azerbaijan is already taking significant steps in this direction

Bilateral relations between Azerbaijan and Brazil are flourishing, characterized by growing diplomatic ties and increasing economic collaboration. With both nations actively seeking to expand their energy portfolios, there exists significant potential for mutually beneficial cooperation in the energy sector. Vugar Bayramov stated that Azerbaijan attaches importance to cooperation with Brazil.

"Brazil is already one of the leading countries in the world. It is a country included in the top twenty. Therefore, Azerbaijan attaches importance to its cooperation with Brazil. In the field of green energy, there is already talk of more exchange of experiences. Because Azerbaijan is interested in both the exchange of experiences and attracting investment. And from this context, of course, cooperation will continue in the direction of the exchange of experience between Brazil and our Azerbaijan."

The tripartite mechanism will not only support the more efficient organization of COP29 and COP events in general, but also, without a doubt, the presentation of Azerbaijan, the attraction of investment, in particular the green energy field, the expert added.

Therefore, this mechanism can be applied as a model in the next COP events, and as a result of which will not only increase the effectiveness of the organization of COP events as a whole but also lead to more projects related to the development of green energy, both globally and regionally.

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