EBRD, Azerbaijan to expand alternative energy cooperation

ECONOMICS  17 May 2022 - 12:39

The European Bank for Reconstruction and Development (EBRD) and Azerbaijan are expected to sign agreements on expanding alternative energy cooperation.

The statement came from the Head of the EBRD Office in Azerbaijan, Kamola Makhmudova, at the EU-Azerbaijan Business Forum in Baku on May 17, according to Trend.

She said that the bank has already implemented projects related to "green" technologies and ensuring the safety of industrial waste in Azerbaijan in the previous years.

“These activities were carried out in large cities, and this trend will continue in the future. In addition, the EBRD is involved in other major projects, mainly in the agriculture and transport sectors, as well as in the field of alternative energy,” Makhmudova said.

“The bank plans to scale up its activities in the alternative energy sector. There are also plans to sign relevant agreements by late May 2022 as part of the construction of power plants with an installed capacity of 230 and 100 MW [megawatts], respectively.”

Caliber.Az