ADB Supports Azerbaijan's COP29 Presidency
(MENAFN- AzerNews)
Nazrin Abdul
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Priyantha Wijayatunga, the Asian Development bank (ADB) Director
General for Energy, has arrived in Baku to engage in discussions on
Azerbaijan's strategic energy development priorities,
Azernews reports.
His visit underscores ADB's commitment to supporting
Azerbaijan's energy transition, including the development of "green
corridors," expansion of renewable energy infrastructure, and
decarbonization efforts.
During his visit, Wijayatunga met with key Azerbaijani
officials, including Finance Minister Samir Sharifov, to discuss
ongoing and future projects. He highlighted the importance of
accelerating the country's energy transition and reaffirmed ADB's
support as they mark 25 years of partnership with Azerbaijan.
Over the past quarter-century, ADB has invested $1.7 billion in
Azerbaijan's energy sector. The bank's strategic focus includes
helping Azerbaijan achieve its goal of 30% renewable energy by
2030, developing green corridors like the Caspian Sea submarine
cable project, and strengthening power transmission and
distribution networks.
Wijayatunga also praised the recent commissioning of the 100 kW
Floating Solar Panels Pilot Project on Lake Buyukshor and noted the
significant progress of the 230 megawatt Garadag solar power plant.
Looking ahead, ADB is involved in future projects, including 1
gigawatt solar and wind initiatives.
As the climate bank for Asia and the Pacific, ADB is also
supporting Azerbaijan's role as the host of COP29 by building
capacity and preparing for the United Nations climate summit in
Baku this November.
It should be noted that, since Azerbaijan joined ADB in 1999,
the bank has allocated over $5 billion across various sectors,
including transport, energy, healthcare, and agriculture. ADB
remains dedicated to fostering a prosperous, inclusive, and
sustainable region while working towards the eradication of extreme
poverty. Established in 1966, ADB has 68 members, with 49 from the
Asia-Pacific region.
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