PECULIARITIES OF ENERGY TRANSITION IN THE SOUTH CAUCASUS COUNTRIES

Abstract

The authors have identified the problems and prospects of implementing the energy transition from conventional to renewable energy in the countries of the South Caucasus in the context of the challenges of sustainable development. The authors analyzed the concept of «sustainable energy» with the definition of its basic components (security, quality of life, environment). The issues of energy transition are studied in the context of new geopolitical challenges, as well as the UN Sustainable Development Goals. The authors presented the specifics of the development of energy systems of the countries of the region in the context of both energy security and integration challenges. Through comparative analysis, the authors have identified opportunities for effective implementation of energy transition policies in the countries of the region. The article studies the structure of existing capacities of the power systems of Georgia, Armenia and Azerbaijan, which allowed to determine the share of renewable energy in these countries. A comparative analysis of renewable energy development in the countries of the region has been carried out to determine the possibilities of increasing hydro, solar, wind, geothermal and bioenergy components. The authors also assess a number of major renewable energy projects currently being implemented in the region.