(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 29. Japan is
exploring ways for contributing to Azerbaijan's green economy,
Japan's Ambassador to Azerbaijan Junichi Wada said at an event on
the 'Green Corridor and Renewable Energy', trend reports.
'Japan has a long-standing partnership with Azerbaijan in the
energy sector. We're currently looking into opportunities for
implementation of green economy and decarbonization projects, as
well as the green hydrogen production in Azerbaijan,' the
He outlined the recent agreement between the Azerbaijani and
Japanese governments on the Joint Crediting Mechanism.
The Joint Crediting Mechanism is a cooperation system that aims
to facilitate the mitigation of greenhouse gas emissions.
In August 2022, the Japan International Cooperation Agency
(JICA) allocated $114.2 million of loans jointly with the European
Bank for Reconstruction and Development (EBRD), the Asian
Development Bank (ADB) and the Abu Dhabi Fund for Development
(ADFD) for the construction project of a solar photovoltaic (PV)
power plant in Azerbaijan.
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