European Investment Bank interested in backing Azerbaijan's green projects
The European Investment Bank (EIB) has expressed a keen interest in backing projects in Azerbaijan focused on green energy, green hydrogen, smart transport, municipal infrastructure, energy transmission, and energy efficiency.
The EIB highlighted Azerbaijan’s significant potential for renewable energy, particularly in wind and solar power, News.Az reports, citing local media.
"Azerbaijan has significant potential for renewable energy, particularly in wind and solar power. Financing mechanisms that might be offered include long-term loans, guarantees and technical assistance to ensure the successful implementation of these projects. Azerbaijan has potential for hydrogen exports. Our focus areas include green energy, energy efficiency, connectivity, digitalization and sustainable infrastructure. EIB Global will therefore work together with other international financial institutions and is ready to consider regional connectivity projects including submarine electricity and digital connections between the European Union and the South Caucasus region," the bank said.
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