Opportunities for the development of energy cooperation with IFC were discussed

Minister of Energy Parviz Shahbazov has met with Regional Director of the International Finance Corporation (IFC) for Europe Rana Karadsheh.

At the meeting, joint projects implemented with IFC in the field of energy were noted as an example of successful development of mutual relations. The role of the energy sector in the economic development of our country was discussed, information was provided about the work done in the fields of traditional energy and green energy, implemented projects and future plans. The opportunities for accelerating the involvement of the private sector in the energy sector and the development of cooperation with the IFC in this direction were discussed.

The road map on offshore wind energy prepared with the support of the IFC was discussed, analysis of the potential of using wind energy in the Azerbaijani part of the Caspian Sea, and technical, economic, as well as export issues were discussed in this regard. It was noted that IFC is interested in the implementation of offshore wind energy projects in Azerbaijan, as well as the possibility of involvement in the implementation of other renewable energy projects.

The sides discussed the Agreement on Strategic Partnership in the Development and Transmission of Green Energy between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary, energy transition, hydrogen and other issues.