The meeting was held with World Bank's Regional Director for South Caucasus at the Ministry of Energy

Energy Minister Parviz Shahbazov met with a delegation led by Rolande Pryce, the World Bank`s Regional Director for the South Caucasus, who is on a visit to Baku to attend the Southern Gas Corridor Advisory Council 11th Ministerial Meeting and the Green Energy Advisory Council 3rd Ministerial Meeting.

The sides expressed satisfaction with the current level of energy cooperation with the World Bank. The bank assessed the allocation of 173.5 million USD to the Azerbaijan Scaling-Up Renewable Energy Project (AZURE) as a contribution to the integration of renewable energy sources into the network. It was noted that by 2027 it is planned to integrate more than 2 GW of green energy capacities into the country's energy system, and at the next stage - about 700 MW.

During the discussions, issues related to network strengthening and cooperation on renewable energy supply projects were considered. The current state of energy export initiatives from Azerbaijan and Central Asia to Europe with various interconnectors was discussed. The future role of these projects in ensuring Europe's energy security was emphasized.

The meeting also touched upon the roadmap prepared within the framework of cooperation with the International Finance Corporation (IFC) in the field of offshore wind energy use and talked about the measures currently being implemented with energy companies.

During the conversation, an exchange of views was held with the bank on the cooperation opportunities on pumped storage hydropower systems and other promising projects.