Azerbaijan, CAREC to create Green Energy Alliance concept

Oil&Gas Materials 2 December 2021 14:20 (UTC +04:00)
Azerbaijan, CAREC to create Green Energy Alliance concept

BAKU, Azerbaijan, Dec.2

By Leman Zeynalova – Trend:

Azerbaijan and CAREC energy community are working to create CAREC Green Energy Alliance concept, Shixin Chen, the Vice-President of the Asian Development Bank (ADB), said during the CAREC Energy Investment Forum, Trend reports.

Shixin Chen noted that as the chair of the Central Asia Regional Economic Cooperation Program (CAREC), Azerbaijan has successfully embarked on the first ever regional awareness campaign for energy efficiency.

“Azerbaijani government and CAREC energy community have started to work out the CAREC Green Energy Alliance concept. This Alliance will soon create a platform to make green energy projects available for investors,” added Chen.

Suzanne Gaboury, Director General at the ADB Private Sector Operations Department noted that energy efficiency clearly lags behind other clean technologies.

“Current global investment in energy efficiency is about $240 billion a year, far behind investment in renewable energy. Energy efficiency is not limited to the energy sector, energy efficiency is related to almost all sectors of the economy, including transport, buildings and industry. That is why investments are important in this process,” she added.


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