IFC to support Azerbaijan in development of offshore wind energy

Investments of the International Finance Corporation (IFC) in Azerbaijan may increase in the 2023 financial year, which will begin in July this year, IFC South Caucasus Country Manager Ivana Fernandes Duarte told Report.

The main focus will be on the sectors of sustainable economy, renewable energy, capital market development support and others.

Speaking about the Roadmap for the development of offshore wind energy in Azerbaijan, she noted that this project has only recently been launched, and Azerbaijan has a very large potential for the development of offshore wind energy.

However, this process will take a long time, but the IFC is determined to support Azerbaijan in this direction, Duarte added.