Investment Forum on Energy Transition was held within the COP29

The Ministry of Energy of the Republic of Azerbaijan and the International Renewable Energy Agency (IRENA) held an Investment Forum on Energy Transition in Central Asia to accelerate the introduction of renewable energy in the region and promote green industrialization. The forum brought together ministers and deputy ministers from Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, and the United Arab Emirates.
They discussed strategies to increase the utilization of renewable energy sources to meet the rising energy needs, ensure energy diversity, support economic growth, and attain climate objectives. The Accelerated Partnership for Renewable Energy in Central Asia (APRECA) program has been established to achieve these goals. The program aims to expand investments, strengthen interregional relations and increase socio-economic benefits within the framework of regional cooperation by mobilizing the potential of Central Asian countries.
Energy Minister Parviz Shahbazov said: “Central Asia Energy Transition Investment Forum is a crucial platform for accelerating sustainable energy transformation in the region, deepening cooperation in renewable energy, and attracting investors to implement strategic projects. Azerbaijan places great importance on strong collaboration with Central Asian countries in advancing the green energy transition. In this context, we have initiated cooperation on establishing the Central Asia-Azerbaijan Green Energy Corridor, a strategic initiative that will strengthen our countries' positions in energy security and supply. The green energy partnership agreement signed within COP between Azerbaijan, Kazakhstan, and Uzbekistan is one of the strategic steps in this direction and will strongly boost international energy cooperation and green investment. Through this Forum, we invite all investors and potential partners to become part of this historic transformation.”
Central Asia's abundant renewable energy resources, strategic geographical position, and ongoing efforts to establish a green energy corridor connecting neighboring regions create significant opportunities for the region to position itself at the forefront of an evolving energy landscape," said IRENA Director General Francesco La Camera. "APRECA offers a pivotal opportunity to harness this potential through a holistic, country-led partnership model that integrates commitments with effective planning and execution."
The Forum will last for two days with discussions on investment and financial policies, financial needs and priorities, frameworks for climate finance and other financial instruments on the energy transition in Central Asia. Special sessions include a Financing Dialogue on Energy Transitions, Interactive session on IRENA's Project facilitation tools for Central Asia, and a Regional Workshop on Central Asia. Each session will provide participants with comprehensive information on innovative solutions and best practices in financing.