Azerbaijan, ADB discuss development of Green Energy partnership

Azerbaijani Energy Minister Parviz Shahbazov received the delegation of the Asian Development Bank, led by Yevgeny Zhukov, Director General of the Central and Western Asia Regional Department of the Bank, Azernews reports, citing the Ministry.

According to information, at the meeting, satisfaction was expressed with the development of long-term mutually beneficial cooperation relations in the field of energy, the possibilities of partnership at a new stage aimed at the wide use of renewable energy, and the achievement of energy efficiency.

Initiatives and projects related to the creation of Green Energy Zones and Green Energy Corridors of Azerbaijan plans for putting nine stations into operation until 2027 to increase the share of renewable energy in the production of electricity, strengthening the network, using offshore wind energy, as well as information was provided on the measures implemented in the example of the establishment of the Energy Efficiency Fund.

The listed directions, including Green Hydrogen, installation of rooftop solar panels in Nakhchivan, as well as decarbonization of heat supply and cooperation issues on supporting reforms in this area were considered. Within the framework of the pilot project Exchange of Knowledge and Technical Assistance Support for the Development of the Floating Solar Panels System, the importance of commissioning the photovoltaic system with a capacity of up to 100 kW in the Buyukshor Lake with ADB was noted on the eve of the COP29 event.

At the meeting, a wide range of views were exchanged regarding activities within the framework of COP29, support proposals for the development of the ADB carbon market and the process of adaptation to climate change. In order to take appropriate steps in this direction, it was agreed to hold events.