Azerbaijan & EBRD discuss possibilities of expanding cooperation

Azerbaijan's Energy Minister Parviz Shahbazov received a delegation led by First Vice-President of the European Bank for Reconstruction and Development (EBRD) Jürgen Rigterink, Azernews reports, citing the Ministry.

The multilateral energy cooperation with the Bank in the field of energy was highly appreciated at the meeting. The sides discussed the possibilities of expanding the Azerbaijan-EBRD cooperation, as well as the projects implemented with the Bank's financial support. In this regard, information was given on the progress of the processes related to holding renewable energy auctions within the EBRD support projects and the preparation of the draft law on the regulator in the field of energy and utilities. The approval of the regulation "Selection of an electricity producer in the territory of renewable energy sources" was highlighted as one of the important advances. The studies conducted to strengthen the electric power network in connection with the implementation of renewable energy capacities in Azerbaijan were also discussed. There was an extensive exchange of views with the bank on cooperation in this direction.

The sides reviewed the current status of the implementation of the 240 MW Khizi-Absheron Wind Power Plant and the Caspian Sea-European Union Green Energy Corridor projects. It was noted that the European Commission supports the Green Energy Corridor, and the European financial institutions are interested in participating in the project. During the conversation, the sides also discussed the prospects for cooperation with the EBRD in the Southern Gas Corridor expansion project, as well as other issues arising from the Memorandum of Understanding on technical support for the development of the electirical engineering sector in the Republic of Azerbaijan signed in December last year.