Odile Renaud-Basso: EBRD supports development of renewables in Azerbaijan

The European Bank for Reconstruction and Development (EBRD) is ready to cooperate with Azerbaijan within expanding the capacity of the Southern Gas Corridor (SGC), EBRD President Odile Renaud-Basso said in an interview with Report.

“We understand that capacity of the Southern Gas Corridor is expandable, and should a decision be taken to do that, we will be glad to engage with Azerbaijan. Apart from this, we are also supporting Azerbaijan’s renewable energy sector, which in turn frees up domestic gas for exports. “We invested €21.4 million in the first privately owned, utility-scale solar power plant in Garadagh within 1 year of President [Ilham] Aliyev’s signing and approving the renewable energy law. Later this year, we are preparing to follow up with an investment in the wind power plant in Absheron region.”

Full version of the interview is available here.