Azerbaijan, WB discuss prospects of cooperation in renewable energy

Azerbaijan’s Minister of Energy Parviz Shahbazov and World Bank (WB) Regional Manager for Azerbaijan Sarah Michael discussed the status of implementation of joint projects, the Energy Ministry told News.Az.

During the meeting the parties discussed the prospects for cooperation in the field of renewable energy sources (RES) and energy efficiency.

In addition, to assess the wind energy potential of the Azerbaijani water area of the Caspian Sea, issues arising from the Memorandum of Understanding on cooperation in the use of offshore wind energy, signed between the Ministry and the International Finance Corporation, which is part of the WB Group, were discussed.

Also, the parties expressed confidence that joint cooperation will contribute to the development of ‘green’ energy in Azerbaijan and reduce emissions of carbon dioxide into the atmosphere.

The ministry also noted that the parties exchanged views on a number of issues of mutual interest.


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