EIB interested in green projects in Azerbaijan

The European Investment Bank (EIB) has expressed interest in supporting projects in Azerbaijan related to green energy, green hydrogen, smart and green transport and municipal infrastructure, energy transmission and energy efficiency, Report informs referring to the EIB.

"Azerbaijan has significant potential for renewable energy, particularly in wind and solar power. Financing mechanisms that might be offered include long-term loans, guarantees and technical assistance to ensure the successful implementation of these projects. Azerbaijan has potential for hydrogen exports. Our focus areas include green energy, energy efficiency, connectivity, digitalization and sustainable infrastructure. EIB Global will therefore work together with other international financial institutions and is ready to consider regional connectivity projects including submarine electricity and digital connections between the European Union and the South Caucasus region."