A workshop for Presenting the Investment Concept for the Energy Efficiency Fund was held

A workshop for Presenting the Investment Concept for the Energy Efficiency Fund was held with the participation of various government agencies, international financial institutions, local banks and independent experts. The workshop was organized within the implementation of the Consultancy Services for Operationalizing EE Fund and Preparation of a Roadmap for NRP of the Energy Efficiency and Climate Technical Assistance Project implemented by the World Bank within the European Union (EU) Azerbaijan Rapid Technical Assistance Facility (AZTAF).

Speaking at the workshop, Nargiz Baghirli, Acting Head of the Department of Energy Efficiency of the Ministry of Energy, spoke about the legislation adopted in the country for the last three years in order to ensure energy efficiency and the importance of incentives that play an important role in its implementation, and noted that work is underway to create an Energy Efficiency Fund.

Noting the EU's efforts to ensure Azerbaijan's energy efficiency, Victor Bojkov, Head of the Cooperation Department of the EU Delegation to Azerbaijan, noted that the EU will continue to provide technical support to Azerbaijan in this area, and also spoke about the contribution of energy efficiency to the reduction of environmental pollution and the implementation of obligations under the Paris Agreement.

Stefanie Stallmeister, Country Manager for the World Bank in Azerbaijan, highly appreciated the seminar in terms of sharing experience and knowledge, future cooperation opportunities, spoke about the contribution of energy efficiency to the reduction of greenhouse gas emissions, the creation of new jobs, as well as the upcoming issues for the creation of the Energy Efficiency Fund. 

At the event, the investment concept document of the Energy Efficiency Fund, the results of political, institutional and market assessment were discussed, the participants were informed about the current experience in the Energy Efficiency Service in Canada and the experience of the Energy Efficiency and Renewable Energy Sources Fund of Bulgaria.

It should be noted that the AZTAF Program, a joint effort of the European Union and the World Bank, was created with the aim of supporting the Government of Azerbaijan to achieve the development goals of Azerbaijan 2030: National Priorities for Socio-Economic Development.

The representatives of the Ministry of Energy, AREA, AERA, the Ministry of Ecology and Natural Resources, the Ministry of Economy, the State Service on Property Issues, the State Committee on Urban Planning and Architecture of the Republic of Azerbaijan, the World Bank, the State Housing Development Agency (MIDA), SOCAR, Azeristiliktechizat OJSC, Azerenerji OJSC, Azerishiq OJSC attended at the workshop.