MILAN, Italy, May 6. Asian Infrastructure Investment Bank (AIlB) and Azerbaijan are working on new projects in the green energy and connectivity fields, Konstantin Limitovskiy, AIlB Chief Investment Officer, Public Sector (Region 2); and Project and Corporate Finance (Global) Clients, told Trend on the sidelines of the Asian Development Bank’s (ADB) Annual Meeting in Milan.
“Azerbaijan has a very strong potential in renewable energy.
It's endowed with a lot of potential both in solar and wind, and we
are working together with the government and private sector as well
to make sure that it's coming on stream for all these energy
cooperation projects, which are now developing in the region.
So up until now, we started slowly but surely. We financed together
with Masdar the wind power project, and we are planning several
others with both solar and wind in the private sector,” he
said.
Limitovskiy noted that the sides are today preparing a number of projects and working together with the Ministry of Energy on the technical assistance capability for the connectivity projects.
“And two applications from Azerbaijan are going through our partnership institution, Multilateral Cooperation Center for Development Finance (MCDF), for the preparation of the feasibility studies for the coastal infrastructure and for the renewable energy infrastructure on the coast as well,” he said.
Limitovskiy pointed out that AIIB sees great potential in connectivity in the region.
“We are working together with the government for the Baku Sea Trade Port’s second phase. We think that it's a timely project to expand today to cater for the future demand, which is growing,” he added.