Baku, September 20, AZERTAC

The US “SDG Knowledge Hub” magazine has published an article by an Azerbaijani expert residing in the U.S., co-founder of the George Washington Azerbaijani Student Association, Kanan Mammadov, headlined "Azerbaijan's public-private partnerships for sustainable development.”

In his article, Mammadov said that Azerbaijan is making significant strides in sustainable development by fostering public-private partnerships (PPPs) aimed at improving energy efficiency in buildings and enhancing sustainable transportation systems.

“The Azerbaijani government has been actively working to enhance energy efficiency in buildings. Collaborating with international financial institutions (IFIs) such as the European Bank for Reconstruction and Development (EBRD) and the Asian Development Bank (ADB), Azerbaijan is receiving both technical and financial assistance for retrofitting public buildings with energy-efficient technologies,” the author noted.

“A new roadmap released by Azerbaijan’s Ministry of Energy, the World Bank, and the International Finance Corporation (IFC) indicates that Azerbaijan could install 7 gigawatts (GW) of offshore wind power by 2040 with appropriate long-term vision, infrastructure development, investment, and policies. This potential development aligns with the country’s decarbonization and sustainable growth objectives. The Offshore Wind Roadmap provides strategic guidance under low- and high-growth scenarios to aid regulatory and infrastructural decisions amid increasing global interest in offshore wind energy.

The Ministry of Energy has also been proactive in promoting renewable energy use in residential and commercial buildings. A notable initiative is the development of a roadmap for offshore wind energy in collaboration with the International Finance Corporation (IFC). This initiative aims to attract both local and foreign investments in renewable energy, potentially generating up to 135 GW onshore and 157 GW offshore from wind energy in the Caspian Sea,” the author underlined.

Mammadov also highlighted the discussions held during the Baku-hosted Energy Forum in June this year.

The full text of the article is available at the following link.