A meeting with Asian Development Bank delegation was held at the Ministry of Energy

The Minister of Energy Parviz Shahbazov met with the Delegation led by Ashok Bargava, the Director of the Energy Division of the Asian Development Bank (ADB), who is on a visit to Azerbaijan within the framework of the Fifth Meeting of the Southern Gas Corridor Advisory Council.

The Minister of Energy highly appreciated the bank's support to the country's energy sector by underlining the cooperation between Azerbaijan and ADB in the field of energy, reconstruction of the electricity network, energy projects on floating solar panels.

The Minister of Energy provided detailed information on the country's renewable energy potential and the expansion of its utilization, the possibility of increasing the share of renewable energy in overall energy production in the coming years and stressed the importance of studying international experience in this area. It was noted that foreign companies are interested in cooperation in the renewable energy sector. It is important to create a favorable environment to attract foreign investment.

Ashok Bargava emphasized the high interest in development of cooperation with Azerbaijan in the sector of renewable energy sources. It was noted that the Bank is interested in renewable energy sources, in particular, in the use of solar and wind energy, as well as on energy efficiency projects. The Bank is ready to provide technical and financial support to the projects to be implemented for this purpose.

The parties exchanged views on the prospects of cooperation.