EBRD Plans To Support Azerbaijan's Wind Energy Production Project


(MENAFN- Trend News Agency)

BAKU, Azerbaijan, February 8. The European Bank for Reconstruction and Development (EBRD) plans to support a wind energy production project in Azerbaijan, said EBRD Country Head for Azerbaijan, Kamola Makhmudova on the sidelines of the event dedicated to the opening of the IT Hub Azerbaijan project, trend reports.

'Green energy is a priority for Azerbaijan. The EBRD cooperates very closely with the Ministries of Economy and Energy and actively supports decarbonization programs in Azerbaijan, both at the investment and political levels,' she said.

'Last year we signed the Masdar financing project, which includes electricity production through solar energy, and this year we also plan to support the project of a wind power plant on the Absheron Peninsula,' Makhmudova explained.

Kamola Makhmudova noted that the EBRD is one of the leaders in financing renewable energy.

Earlier, the EBRD and the Ministry of Energy of Azerbaijan signed a memorandum of understanding aimed at developing a low-carbon and climate-resilient energy sector in Azerbaijan in accordance with the country's obligations under the Paris Agreement [an international treaty on climate change].

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