Hydroelectric power plants play a vital role in the supply of sustainable and green energy. The substantial hydropower potential of rivers located in the liberated territories of Karabakh significantly enhances the viability and efficiency of renewable energy projects in the region.
In line with the “I State Program on the Great Return to the Liberated Territories of the Republic of Azerbaijan”, and with the objective of contributing to the establishment of a “green energy” zone through the efficient utilization of hydropower resources, a Joint Venture Agreement was signed on December 27, 2023 between Azerbaijan Investment Company OJSC and Demirören Yatırım Holding A.Ş., a leading group of companies from Türkiye.
As a result of this strategic partnership, Green Karabakh Energy LLC (GKE) was established on April 9, 2024 to implement the restoration and construction of five small hydroelectric power plants located on the Hakari and Tartar rivers in the Kalbajar and Lachin regions.
The project aims to promote public–private partnership, create new employment opportunities, and enhance technical expertise and capacity in the renewable energy sector. In addition, GKE’s initiative supports the national targets of increasing the share of renewable energy in total electricity generation to 30% by 2030, as well as reducing greenhouse gas emissions.
This project represents the first privately implemented hydroelectric power initiative in the liberated territories and stands as a meaningful contribution to strengthening the long-standing brotherhood and strategic cooperation between Azerbaijan and Türkiye.