The Asian Development Bank (ADB) is ready to support renewable energy projects in Azerbaijan, the head of the ADB Resident Mission in Azerbaijan, Sunniya Durrani-Jamal, said in response to a question from Report at a media briefing dedicated to the presentation of the April edition of the Asian Development Outlook.
The head of the mission noted that Europe is extremely interested in reducing its dependence on hydrocarbons.
"That is why they are focusing on renewable energy sources. Azerbaijan is also investing enormous funds in the development of solar energy. We have already invested in three very large projects together with the Ministry of Energy through our private sector operations. In the future, again from the perspective of energy security, we are looking at opportunities to participate in the development of wind energy - it has enormous potential. I think the prospects look quite positive. That is, you have both fossil fuels and rich renewable energy resources that the government is now developing. From the perspective of Europe's energy security, Azerbaijan holds a very advantageous position. But this will require investment, and we are here to support the government in this matter," emphasized Durrani-Jamal.