The State Oil Company of Azerbaijan (SOCAR) is proposing to companies from the Caspian littoral countries to create consortia in the field of renewable energy, SOCAR Vice President Afgan Isayev said at the 30th Baku Energy Forum.
Report quotes Isayev as saying the main problem facing the renewable energy sector in the world today is related to network constraints:
"This problem exists in every country on the planet right now. Because the grid needs to be balanced. This is very important. With all our projects, with our partners, we are reaching the limits of the grid. But there are solutions. For example, the batteries that we were considering with the grid operator were previously lithium-ion batteries. Now we are seeing the development of sodium-ion batteries, which are more affordable and less harmful to the environment."
He noted that another significant challenge for SOCAR in developing the renewable energy sector is the lack of access to the open seas:
"The logistics of very large, complex equipment are difficult. We have seen this in our projects with our partners, especially in wind energy projects. But with time and experience, some of our partners have already overcome the logistical challenges."
Isayev said that logistical difficulties still remain:
"There are also challenges with building offshore wind turbines. We need specialized large ships that we need to build here. So, another issue is localization. We can do it. That is why we are proposing to our neighboring partners around the Caspian Sea to unite in the field of renewable energy, to create consortia, as we have done in the field of oil and gas. We can do the same with all our neighbors to develop the offshore opportunities of the Caspian. We will share the costs and it will be faster and cheaper for each country.
