Azerbaijan, EBRD Evaluates First Renewable Energy Auction

(MENAFN- AzerNews)
Azerbaijan, EBRD Evaluates First Renewable Energy Auction Image
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The European Energy Group of the European Bank forReconstruction and Development (EBRD) and Azerbaijan evaluated thefirst renewable energy auction and other projects to be held on theeve of COP29, Azernews reports, citing the postshared by Azerbaijan's Energy Minister Parviz Shahbazov on hisofficial "X" account.

The energy minister, on a visit to Abu Dhabi, met with GrzegorzZielinski, director of the EBRD's European Energy Group.

"In a meeting with Grzegorz Zieliński, Director, Head of EnergyEurope, for the EBRD in Abu Dhabi, we discussed the activities ofthe Energy Efficiency Fund, the implementation of pilot projects inthe field of energy efficiency, the Azerbaijan(Nakhchivan)-Turkiye-Europe energy line, the Caspian-BlackSea-Europe green energy corridor, the connection of 1 GW solar-windenergy projects to the grid, and cooperation on energy systemmodernization. We evaluated the first renewable energy auction andother projects to be implemented on the eve of COP29," said P.Shahbazov.

Recall that Azerbaijan successfully participated in the COP28held in Abu Dhabi last year. Baku, the capital of Azerbaijan, willhost the 2024 UN Climate Change Conference (UNFCCC COP 29) for thefirst time in the region from November 11–22, 2024. The decisionwas made at the plenary session of COP28 on December 11.

Azerbaijan will take the opportunity to bring heads of state andgovernments, civil society organisations, businesses, andinternational institutions together in the South Caucasus todiscuss climate change, measures to accelerate the implementationof the Paris Agreement, and focus on long-term climate strategiesand goals.

It is worth noting that Azerbaijan confirmed its commitment toreduce the emission of greenhouse gases by 35 percent by 2030 andincrease this target by 40 percent by 2050. Fulfilling thecommitments under the Paris Agreement adopted in 2015 and activelyworking in this regard are priority issues for the government ofAzerbaijan.

The Conference of the Parties to the UN Framework Convention onClimate Change (UNFCCC) has been held annually since 1995. Theevent aims to assess the progress made in combating climate changearound the world.



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