Azernews.Az

Nazrin Abdul

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As a result of a joint project between Azerbaijan and the World Bank, the country will soon be able to connect 1.8 gigawatts of renewable energy to its national power grid.

Azernews reports that this announcement was made by Stephanie Stallmeister, the World Bank’s Country Manager for Azerbaijan, during the signing ceremony of the credit agreement for the “Scaling Up Renewable Energy in Azerbaijan” project, held between the Azerbaijani Government and the World Bank.

According to Stallmeister, Azerbaijan is rapidly transforming into a “green energy” nation. “The country has taken significant steps toward developing the renewable energy sector both during and after COP29, making important commitments along the way. We are optimistic that this project will pave the way for additional renewable energy initiatives,” she said.

Once completed, the project will enable Azerbaijan to integrate 1.8 gigawatts of electricity generated from renewable sources into its power network - a major milestone for the country. Furthermore, the initiative is expected to stimulate private sector investment in renewable energy, fueling further growth in this critical sector.

Highlighting the successful ongoing cooperation between Azerbaijan and the World Bank, Stallmeister expressed confidence that the World Bank Group will continue supporting projects aligned with Azerbaijan’s socio-economic development priorities, contributing significantly to the country’s sustainable and inclusive growth.