BAKU, Azerbaijan, January 25. The European Bank
for Reconstruction and Development (EBRD) is concerned with
financing the development of a wind energy plant within the Absheron
peninsula, Matteo Patrone, Managing Director, Eastern Europe and
the Caucasus (EEC) on the EBRD, instructed Trend.
“Notably, we invested within the building of the primary privately
owned, utility-scale solar energy plant in Garadagh. We are additionally
concerned with financing the development of a wind energy plant in
the Absheron peninsula. All this, in fact builds on a multiyear
technical help work supplied to the Ministry of Energy. Among
different issues, we now have supported the introduction of a the
legislative framework for renewable power, the establishing of the
power regulator, and helped the ministry conduct a grid
strengthening research, which we hope shall be conducive to put money into
grid enhancements throughout Azerbaijan,” he stated.
More not too long ago, the EBRD signed a MoU with the Ministry of
Energy. Once the present engagements shall be dropped at fruition,
the Bank will proceed supporting the event of low carbon and
local weather resilient energy sector in Azerbaijan, according to the
nation’s commitments beneath the Paris Agreement.
“This could embody additional improvement of renewable power,
improvement of sectoral low carbon pathway for the ability sector,
grid enhancement, improved power effectivity, methane emissions
discount and gradual introduction of revolutionary applied sciences,
together with hydrogen,” Patrone defined.
The EBRD additionally stands able to assist Azerbaijan within the
enlargement, improve and digitalization of Azerbaijan’s power grid
to help the nation in transporting inexperienced power to Europe.
“We very a lot assist bringing the Caucasus nearer to the
European Union, be it in renewable power, transport
infrastructure, or coverage reform. As I discussed earlier,
Azerbaijan has an amazing potential in relation to the event
of renewables. As for various routes for transportation, we are going to
have to take a look at them on project-by-project foundation. This can solely be
achieved in case there’s a related proposal to our Bank. Recently we
noticed that President Ilham Aliyev, along with leaders of Romania,
Georgia, Hungary, and the President of the European Commission von
der Leyen signed a memorandum of understanding for the event
of the Black Sea Energy submarine cable,” he stated.
