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Azerbaijan's Renewable Potential

AOL - Energy – Investing in Renewables

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.

Read entire article here.

*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.