World Bank proposes developing Energy Efficiency Fund as a Super ESCO model

Using Azerbaijan's Energy Efficiency Fund as a Super ESCO would be a logical approach, according to the World Bank, World Bank's Senior Energy Specialist Sameh Mobarek said at the 31st Baku Energy Forum.

He noted that it would be more effective to utilize an existing Super ESCO structure, as there is significant energy-saving potential in the system, particularly in public buildings. He estimated that around 1.3 billion manats in investment would be required to implement relevant projects.

Mobarek added that government institutions generally lack sufficient resources and technical capacity, and therefore recommended bundling smaller projects into larger packages to attract private investment through EPC and ESCO models.