Azerbaijan, EBRD Moot Priority Areas Of Cooperation (PHOTO)
Date
4/18/2024 3:08:42 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 18. Azerbaijan's EnergyMinister Parviz Shahbazov discussed potential projects for theEuropean bank for Reconstruction and Development (EBRD) during ameeting in Abu Dhabi with Grzegorz Zieliński, director of theEBRD's European energy Group, the statement of Azerbaijan's EnergyMinistry said, Trend reports.
"The meeting discussed priority areas of cooperation with theEBRD in the energy sector, in particular the possibility of thebank's support of the Energy Efficiency Fund in Azerbaijan and theimplementation of pilot projects in the field of energyefficiency," the statement noted.
The discussions were also held on the creation of the Azerbaijan(Nakhchivan)-Türkiye-Europe energy line, projects of the greenenergy corridor Caspian-Black Sea-Europe, the connection of 1 GW ofsolar-wind power plants to the network, as well as cooperationissues related to the modernization of the energy system.
"During the conversation, the sides also assessed the situationwith the preparation of a draft law on modernization in the powersector within the framework of the joint project with the EBRDSupport to the Energy Regulatory Agency. The parties also discussedthe action plan for the energy sector within the framework of theupcoming COP29," the statement of the Ministry of Energyemphasized.
Additionally, it was highlighted that Azerbaijan's transition togreen energy is aided by collaboration with the EBRD on enhancingthe potential of renewable energy sources, a low-carbon economy,and the financing of Garadagh HPP.
Besides, the current status of cooperation on low-carbonsolutions in the power sector was discussed.
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