Azerbaijan pushes forward green energy transition with key partnerships at COP29 PHOTO

During COP29, Azerbaijan’s Minister of Economy, Mikail Jabbarov, held a meeting with the US Assistant Secretary of State for Energy Resources, Jeffrey Pyatt.

The meeting focused on key priorities for bilateral cooperation, emphasizing the importance of increasing the use of renewable energy sources and exploring the potential for directing investment into sustainable business models, the Azerbaijani Economy Ministry told Caliber.Az.

The discussions also addressed the successful adaptation of Azerbaijan’s economic development model to global challenges, such as emission reductions, climate change resilience, and the transition to low-carbon business strategies.

Information was shared regarding a project to export green energy from Central Asian countries to Europe via Azerbaijan.

The two sides also exchanged views on developing international cooperation to stabilize global supply during the transition to green energy, expanding renewable energy use in Azerbaijan, and attracting investment in sustainable business models.

Additionally, a business lunch was held during COP29 with the participation of Minister Mikail Jabbarov and Total Energies CEO, Patrick Pouyanne.

The discussions during the lunch covered the role of industry leaders in reducing methane emissions and utilizing Azerbaijan’s potential in this area. They also discussed the implementation of wind and solar energy projects and energy storage systems by Total Energies in Azerbaijan. The company expressed interest in participating in renewable energy projects in the Caspian region.

The two sides further exchanged opinions on the possibilities of expanding cooperation to intensively promote green energy in Azerbaijan.

In another meeting at COP29, Minister Jabbarov met with Jin Liqun, the President of the Asian Infrastructure Investment Bank (AIIB).

Jabbarov highlighted that Azerbaijan has been cooperating with the AIIB since 2016 and emphasized the importance of this partnership. He also outlined the work done in Azerbaijan to ensure sustainable development, including the transition to a green economy and the promotion of green energy. Jabbarov provided details on priority projects under the cooperation with the Bank.

AIIB President Jin Liqun emphasized the Bank's efforts to stimulate economic growth and infrastructure development in Asia, noting the strong cooperation with Azerbaijan and sharing his views on the future development of the partnership.

The two sides discussed potential areas of cooperation, AIIB's future priorities in Azerbaijan, and promising projects related to green energy and infrastructure development.

By Tamilla Hasanova