Memorandum of Understanding between the Ministry of Energy and the International Atomic Energy Agency was signed at COP29

The Ministry of Energy and the International Atomic Energy Agency (IAEA) signed MoU within the Financing Low Carbon Technology, Including Nuclear Energy event co-organized by COP29 Presidency and the IAEA. Energy Minister Parviz Shahbazov and IAEA Director General Rafael Mariano Grossi signed the Memorandum of Understanding between the Ministry of Energy of the Republic of Azerbaijan and the International Atomic Energy Agency on Cooperation in the area of Energy Planning in the context of the Paris Agreement.

Energy Minister Parviz Shahbazov said that The Memorandum of Understanding on cooperation in energy planning, which we signed today with the International Atomic Energy Agency, is a clear expression of our commitment to further strengthening Azerbaijan's ambitions in the transition to clean energy and the development of green energy: "Collaboration under the Atoms4NetZero initiative, which focuses on analyzing the potential of nuclear energy, including small modular reactors (SMRs), in the clean energy transition, will give a fresh impetus to Azerbaijan's energy sector. The primary objective of this memorandum is to conduct joint research and implement projects focused on the development of nuclear energy.  Our collaboration with the IAEA will pave the way for Azerbaijan's advancement in the future deployment of nuclear energy and facilitate the further diversification of its energy system."

IAEA Director General Rafael Mariano Grossi said: "We welcome this cooperation framework established today between the IAEA and Azerbaijan as it will support the essential role of long-term strategic planning and capacity building in ensuring the success and sustainability of the clean energy transition. We look forward to working together to explore nuclear energy's potential within Azerbaijan’s Paris Agreement commitments."

It should be noted that the Deputy Energy Minister Orkhan Zeynalov spoke at the event “Financing Low Carbon Technology, Including Nuclear Energy”.  Deputy Minister spoke about the projects implemented by Azerbaijan in the field of green energy, reduction of carbon emissions and energy transition plans. He noted that the energy transition actualizes the use of all types of clean energy. It was also stressed that the introduction and development of nuclear technologies on a large scale can be possible not only with political will, but also with significant financial support. "The key challenge we face is mobilizing these resources and ensuring their equitable distribution, so that all countries, particularly developing ones, can participate fairly in this transition" - the Minister added.

The event continued with panel discussions.