WB Ready To Support Azerbaijan In Improving Efficiency Of Its Heating System - Energy Specialist

2024-05-31 05:20:10

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 31. The World bank isready to support Azerbaijan in improving the efficiency of itsheating system, World Bank energy specialist Florian Kitt said,Trend reports.

He made the announcement at the second annual reporting meetingof the Azerbaijan Rapid Technical Assistance Facility (AZTAF)program, funded by the European Union (EU) and managed by the WorldBank (WB).

“Globally, about 30 percent of energy consumption is inbuildings. The figure in Azerbaijan is about 38 percent in theresidential sector alone. If you include industry and othersectors, you get about 50 percent. The average energy consumptionof buildings in Azerbaijan is about 0.85 gigajoules,” heemphasized.

Florian Kitt noted that a plan for further actions by theMinistry of Energy of Azerbaijan to improve the efficiency of theheating system was presented.

“We are ready to provide support in addressing these issues, andwe, as the World Bank, are ready to discuss and provide projectfinancial support in the form of loans in this direction,” hestated.

Furthermore, Florian Kitt mentioned that carbon and climatefinance play a key role in supporting the government's ambitiousstrategy to increase the use of renewable energy in Azerbaijan.

“Energy efficiency is the most affordable and fastest measure toreduce the skyrocketing energy consumption caused by the increasinguse of heating, cooling, and cars. It is the one that can helpreduce costs, free up funds for other economic activities, andsupport Azerbaijan's strategy to diversify its energy sector,” hesaid.

Kitt also noted that wind, solar, geothermal, and bioenergy areareas that require special attention.

“We appreciate the support of our European partners who agreethat these topics need to be promoted to successfully realizenationally determined contributions (NDC) and move to a neweconomic basis based on renewable energy sources rather than oiland gas,” he added.

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