Development of green energy partnership was held with Asian Development Bank

A meeting was held between Energy Minister Parviz Shahbazov and a delegation led by Eugene Zhukov, the Director General of Central and West Asia Department of Asian Development Bank.

The sides expressed satisfaction with the development of long-term mutually beneficial cooperation in the field of energy, discussed the partnership opportunities at a new stage aimed at the widespread use of renewable energy and the achievement of energy efficiency. Initiatives and projects related to the establishment of Green Energy Zones and Green Energy Corridors of Azerbaijan plans for putting nine stations into operation until 2027 to increase the share of renewable energy in the production of electricity, strengthening the network, using offshore wind energy, as well as information was provided on the measures implemented in the example of the establishment of the Energy Efficiency Fund.  The issues of cooperation on the listed directions, including green hydrogen, installation of rooftop solar panels in Nakhchivan, as well as decarbonization of heat supply and support for reforms in this area, were considered. Within the framework of the pilot project Exchange of Knowledge and Technical Assistance Support for the Development of the Floating Solar Panels System, the importance of commissioning the photovoltaic system with a capacity of up to 100 kW in the Buyukshor Lake with ADB was noted on the eve of the COP29 event.

At the meeting, the sides exchanged views on support proposals for the activities within the COP29, the development of the ADB `s adaptation process to the carbon market and the climate change. In order to take appropriate steps in this direction, it was agreed to hold events.