EBRD Supports Large-Scale Renewable Energy Projects In Azerbaijan

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 26.​ The role of the European Bank for Reconstruction and Development (EBRD) is to transform visions into bankable projects, said Sandro Museridze, Principal Banker for the Energy Sector at EBRD, Trend reports.

Speaking at the "Green Energy Week 2025: Azerbaijan and Central Asia" event in Baku, Museridze noted that EBRD contributes to the development of green energy in Azerbaijan and Central Asia by investing and supporting renewable energy initiatives such as solar power plants.

“Our main task is to turn ambitions into real projects. This means that we assist in project preparation, feasibility studies, development of various options, and also work with the government on regulatory reforms.

Azerbaijan aims to achieve at least 30 percent renewable energy by 2030, and EBRD's mission is to help reach this goal. In recent years, EBRD has financed 1.2 gigawatts of renewable energy projects in Azerbaijan with a combined capacity of over one gigawatt. These include a 230 megawatt solar project with Masdar, a 240 megawatt wind project with ACWA Power, and several more of similar scale. These projects are not just numbers; they represent the first and largest industrial-scale renewable energy initiatives in the South Caucasus. In Central Asia, we have invested over $1.3 billion in recent years, underscoring our commitment to driving the region's green energy transition,” he underlined.

Museridze also spoke about the“Khizi-Absheron” Wind Power Plant.

“I recently visited the site of the project implemented by ACWA Power and co-financed by us. During the construction stage, 850 workers were employed, 70 percent of them locals. This is not only about employment but also about transferring new skills to the country. Once completed, the project will reduce carbon emissions by more than 400,000 tons annually, equivalent to taking tens of thousands of cars off the roads.

Our role goes beyond direct investment. While many international financial institutions are cautious about entering new markets, the participation of the EBRD provides them with greater confidence.

Equally important is the presence of a reliable and predictable electricity grid, which is vital for project success. Notably, in 2024, with EBRD's support, Azerbaijan held its first renewable energy auction, covering 400 megawatts of solar power capacity. This initiative is not just another project; it sends a clear, systemic message about the long-term role of renewable energy in the country,” he added.

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