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ADB continues to support Azerbaijan’s efforts to diversify its energy mix

Oil&Gas Materials 3 June 2020 16:09 (UTC +04:00)
ADB continues to support Azerbaijan’s efforts to diversify its energy mix

BAKU, Azerbaijan, June 3

By Leman Zeynalova – Trend:

The Asian Development Bank (ADB) has been supporting and continues to support the Azerbaijani government’s efforts to diversify its energy mix, ADB told Trend.

Until the recent past ADB provided financial assistance for building power sector infrastructure, including the transmission and distribution network, said the bank.

“Currently, ADB is actively involved in providing advisory support to relevant agencies in charge of energy sector development. For example, ADB funded some study tours to UK, Australia, and Germany for officials to learn best international practices in creating the competitive electricity market, tariffs structure. Also, number of participants from Azerbaijan attended and learned from ADB-funded events such as annual Asia Clean Energy and Asia Solar Energy Forum,” said ADB.

Under the regional technical assistance program, ADB is financing the design and construction of a pilot plant for production of photovoltaic energy on Lake Boyukshor. “This innovative floating solar project can be scaled up in country’s regions with larger water storage reservoirs.”

Azerbaijan joined ADB in 1999.

The bank’s operations are guided by the country partnership strategy, 2019–2023, which supports diversified and inclusive growth in the country. By aiming to boost private sector development, raise public sector efficiency, improve infrastructure, and strengthen human capital, the strategy is closely aligned with the government of Azerbaijan’s strategic road maps for the national economy and main economic sectors.

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Follow the author on Twitter:@Lyaman_Zeyn

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