Azernews.Az

Ulviyya Poladova

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Anar Karimov, First Deputy Minister of Finance of the Republic of Azerbaijan, held a meeting with the World Bank’s (WB) Energy Sector Mission. and discussed expanding cooperation in the energy sector, AzerNEWS reports via the Azerbaijani Ministry of Finance.

The mission included senior energy specialists, the current task team leader, Roger Coma Cunill, and the incoming task team leader, Sameh Mobarek.

The meeting focused on the implementation of the AZURE Project (Integration of Renewable Energy Sources into the Grid). Both sides reviewed progress achieved under the project, as well as the results of ongoing technical assistance programs conducted within the broader partnership framework between Azerbaijan and the World Bank.

Anar Karimov emphasized that more than 30 years of successful cooperation between Azerbaijan and the World Bank have made the institution one of the country’s key development partners. He highlighted that the AZURE project plays a strategic role in strengthening the national power transmission network by enabling the integration of 1 GW of solar and wind capacity constructed by Masdar into Azerbaijan’s energy system.

He also underlined the importance of financing Battery Energy Storage Systems (BESS) within the AZURE framework, describing it as a critical step toward enhancing grid flexibility, enabling greater integration of renewable energy, and improving overall system resilience.

World Bank representatives expressed satisfaction with ongoing cooperation in Azerbaijan’s energy sector. They reaffirmed their commitment to providing technical support in key areas, including power grid modernization, tariff reforms, and the development of offshore wind energy. They also stressed the importance of translating technical assistance into sustainable and efficient investment projects, as well as strengthening coordination among relevant institutions.

The meeting also included an exchange of views on priority investment areas for the next phase, the advancement of renewable energy projects, and further expansion of cooperation with the World Bank.