Azerbaijan, ADB mull new energy cooperation opportunities

Azerbaijan and the Asian Development Bank (ADB) have held discussions on potential projects in the energy sector and new opportunities for cooperation in the field of energy.

Report informs citing the Ministry of Energy that the talks took place during a meeting between Deputy Minister Orkhan Zeynalov and an ADB delegation led by Priyantha Wijayatunga, Chief of Energy Sector Group, and Joonho Hwang, Director of Energy Division for Central and West Asia Department.

The sides highly appreciated Azerbaijan's close cooperation with the Bank, particularly in the development of the energy sector and ADB's support for projects involving the transportation of Azerbaijani natural gas to Europe. Azerbaijan's measures to develop renewable energy sources, its green energy potential, production, and export were also discussed. The country's energy initiatives and planned activities related to COP29 were highlighted.

The sides spoke the expected impact of the 100 kW floating solar power plant recently commissioned on Lake Boyukshor under the joint project of Knowledge Exchange and Technical Assistance for the Development of Floating Solar Panel System between the Ministry of Energy and ADB on diversifying green energy sources in Azerbaijan.

The meeting also discussed measures to be taken towards reforming the heat supply sector in Azerbaijan with ADB's technical support. They exchanged views on the opportunities for future cooperation on supporting the implementation of the Caspian-Black Sea-Europe green energy corridor project and the creation of the Azerbaijan-Central Asia-Europe green energy corridor.