Azerbaijan, ADB mull co-op in green energy

14 July 2021 16:31 (UTC+04:00)

By Ayya Lmahamad

The Asian Development Bank (ADB) is interested in continuing cooperation in energy sector and in the “green energy” in the country’s liberated lands, the bank’s country director Candice McDeigan said during the meeting with Energy Minister Parviz Shahbazov on July 13.

During the meeting, the sides discussed the successful cooperation and the work carried out on the pilot project “exchange of knowledge and technical assistance on the development of floating solar panels system”.

Speaking about the reforms carried out in Azerbaijan’s energy sector and projects implemented to expand the renewable energy sources, Shahbazov underlined the importance of international financial institutions, including ABD’s support in this process.

The minister noted that “green growth” is among the national priorities for Azerbaijan’s socio-economic development until 2030.

Additionally, the parties expressed confidence that the long-term cooperation with ADB will contribute to the implementation of the law “on the use of renewable energy sources in the electricity production” that came into force in the country recently.

Azerbaijan has been a member of the Asian Development Bank since 1999. Since then, the bank has committed $4.4 billion in loans, $32.28 million in technical assistance projects, including ADB-administered co-financing for Azerbaijan.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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