BAKU, Azerbaijan, September 29. Asian Development Bank (ADB) continues to support Azerbaijan’s effort to increase the share of renewable energy, ADB Director General for Central and West Asia Yevgeniy Zhukov told journalists at a media briefing, Trend reports.
“We fully support the government of Azerbaijan's effort to increase the share of renewable energy and overall energy capacity through the development of the offshore solar power capacities and we will be looking very carefully at any possibilities to invest in this area,” he said.
Recently ADB approved an investment of about $20-22 million to support a solar power project in Azerbaijan.
“We are very happy to see that Azerbaijan has ambitious plans to diversify into renewable energy and we would be there to support the government with public sector finances and also looking for private sector opportunities,” he added.
According to Zhukov, ADB currently starting preparation of the next Country Partnership Strategy for Azerbaijan and in the coming month will be discussing with the government priority areas for investments over the next 5 years period.