Minister of Energy met the delegation of the European Bank for Reconstruction and Development

The Minister of Energy Parviz Shahbazov received the delegation headed by the First Vice President of the European Bank for Reconstruction and Development (EBRD) Jürgen Rigterink. At the meeting the support by the EBRD for the projects in various directions in the field of energy was highly appreciated. The Minister of Energy Parviz Shahbazov spoke about the existing and potential cooperation with the EBRD in the priorities in compliance with the new trends and reforms implemented in the energy sector. It was noted that the projects for support to the auctions on renewable energy in Azerbaijan and to the activities of the Azerbaijan Energy Regulatory Agency   within the cooperation with the EBRD would contribute to the development of the energy sector in our country in a new stage. There is a close collaboration with the Bank in the development of the Draft Law on Regulator in the Fields of Energy and Utilities and other regulations.

The Vice President Jürgen Rigterink appreciated the work done in the field of renewable energy in our country and the targets of increasing the share of renewable energy sources in the capacity of the electric-power industry to 30% by 2030.

A wide exchange of opinions was made on the potential expansion of cooperation between the Ministry of Energy and European Bank for Reconstruction and Development at the meeting.