Azerbaijan's Renewable Potential
By Alistair Wishart, Nabil Khodadad and Afzaal Abidi*
Azerbaijan might not be the first place that springs to mind when thinking about renewable energy; the republic is better known for its vast hydrocarbon reserves in the Caspian sea.
The world’s first oil tanker shipment sailed from the capital, Baku, in 1878 – incidentally the year that Azerbaijan’s first oil transportation pipeline was built – and today its extensive network of pipelines delivers oil and gas to Russia, Turkey and Europe.
Azerbaijan is currently a net exporter of electricity – with installed capacity equivalent to nearly double the domestic demand, Azerbaijan exports to Russia, Georgia, Iran and Turkey, and recently started exports to countries across Europe through Georgia and Turkey.
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*Afzaal Abidi is a Trainee at our London Office
This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.