EU eyes to allocate $5-$10M to Azerbaijan to participate in energy efficiency project

Oil&Gas Materials 16 April 2019 09:43 (UTC +04:00)

Baku, Azerbaijan, April 16

By Sara Israfilbayova - Trend:

The EU plans to allocate $5-$10 million to Azerbaijan in case the country joins the Eastern Europe Energy Efficiency and Environment Partnership (E5P) project, Michael Rupp, head of the sector for connectivity in the Eastern Partnership countries of the European Commission's Directorate-General for Neighborhood and Enlargement Negotiations, told Trend.

The E5P Foundation, which is managed by the European Bank for Reconstruction and Development (EBRD), is a major regional program that includes all of the Eastern Partnership countries, except Azerbaijan, he said. The negotiations are underway, he noted.

The EU is waiting for concrete proposals from the Azerbaijani government and is ready to assist as soon as needed, he added.

The main areas in which cooperation is offered to Azerbaijan include insolation of buildings, which will help save energy, he said.

The E5P is a multi-donor fund targeted at municipal energy efficiency investments in the Eastern Partnership region. The main goal of the initiative is to use grants in addition to loans that are allocated for energy efficiency and nature conservation programs, such as the rehabilitation of water supply and drainage systems, solid waste management and street lighting.