Azerbaijan, Asian Development Bank review expansion of energy cooperation
Baku, September 15, AZERTAC
Parviz Shahbazov, Azerbaijan’s Minister of Energy, met with, Azerbaijan’s Minister of Energy, met with a delegation of the Asian Development Bank (ADB) led by its Executive Director Satya Srinivas.
"At the meeting, we discussed new areas of our energy cooperation. We explored opportunities to expand our partnership with ADB in the integration of renewable energy into the grid, the development of offshore wind energy projects, green energy corridors and heat supply," Parviz Shahbazov wrote on X.
The Minister provided information on Azerbaijan's role in energy security, the diversification of its energy system, and ongoing work toward renewable energy development. It was noted that next year, the share of renewable energy sources in total installed capacity is expected to exceed 30 percent. A grid study is currently underway to assess the system's capacity for integrating additional renewable energy. Highlighted during the meeting was the need to expand transmission capacity and regional interconnectors alongside generation to meet rising power demand driven by artificial intelligence, data centers, and digitalization.
Additionally, the sides exchanged views on private sector participation in renewable energy, ADB financing opportunities, and technical assistance for modernizing the heat supply sector.
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