The cooperation opportunities have been discussed with the International Finance Corporation (IFC) at the Ministry of Energy

The meeting was held between Minister of Energy Parviz Shahbazov and the delegation led by IFC Regional Director for Caucasus and Russia, Jan Van Bilsen. Jan van Bilsen spoke about issues such as attracting investments to private sector and increasing the role of the sector in the economy. Drawing on the experience of private sector development and reforms in the energy sector in many countries, the International Finance Corporation has expressed interest in cooperation with Azerbaijan in this regard.  

Informing about reforms in the energy sector and preparation of new legislative framework for this purpose, Minister Parviz Shahbazov noted that sub-normative legal documents should be prepared with the support of consultants for the implementation of these laws.   It was noted that sides could also cooperate on a new draft law "On Energy".

The Minister of Energy said that increasing the use of renewable energy sources was one of the priorities of the government. Auctions planned following pilot projects and partnership with the European Bank for Reconstruction and Development for this purpose were brought to the attention by the Minister.

The meeting focused on the transition to a liberal market model in the field of power engineering, the development of new productive forces with the attraction of private investment, and the perspectives for future cooperation on offshore wind power.