BAKU, Azerbaijan, April 4. Azerbaijani Energy Minister Parviz Shahbazov named priority projects for cooperation at a meeting with a delegation of the Asian Development Bank (ADB), Trend reports.
"The Minister announced intentions to commission nine renewable
energy (RES) projects by 2027. Azerbaijan's plans to use offshore
wind energy were also highlighted. Green hydrogen, solar panel
installation on Nakhchivan buildings, decarbonization of heat
supply, and the Energy Efficiency Fund's efforts are among the top
priorities.
Following a meeting with the head of ADB's Central and West Asia
Department, Eugene Zhukov, the leadership of the Ministry of Energy
of Azerbaijan agreed to take additional steps and hold frequent
meetings," the statement of the Ministry says.
ADB is one of Azerbaijan’s key sources of official development assistance. Current ADB operations are being implemented under the country partnership strategy, 2019–2023, which aims 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. A new country partnership strategy for 2024–2028 is expected to be implemented by 2024.
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