Azerbaijan - EBRD relations: Growing potential in renewable energy under the spotlight
Baku, May 20, AZERTAC
Azerbaijan’s Energy Minister Parviz Shahbazov met with Harry Boyd-Carpenter, Managing Director for the Sustainable Infrastructure Group at the European Bank for Reconstruction and Development, who is visiting Azerbaijan to participate in the World Urban Forum.
The meeting focused on expanding cooperation in the energy sector, development of renewable energy sources, and projects related to regional energy interconnections.
The sides highlighted Azerbaijan’s growing renewable energy potential and the country’s strategic goals in this area. It was noted that Azerbaijan plans to create 8 GW of renewable energy capacity for domestic consumption and export by 2035. Amid rising electricity demand driven by data centers, grid analysis is being conducted to integrate additional renewable energy capacities into the national energy system in the coming years.
The meeting also reviewed regional energy interconnector projects and cooperation opportunities with the Bank in this context. The importance of the “Azerbaijan–Georgia–Türkiye–Bulgaria,” “Caspian–Black Sea–Europe,” and “Azerbaijan–Central Asia” green energy corridors, as well as transmission line projects extending toward Türkiye via Nakhchivan and Armenia, was emphasized. The projects were described as strategically important for expanding energy export opportunities and strengthening regional energy security.
The sides also touched upon issues related to natural gas and the development of the Southern Gas Corridor. Both parties expressed interest in further expanding cooperation in the energy sector.
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