EBRD official hails cooperation with Azerbaijan on renewable energy at COP29

The European Bank for Reconstruction and Development (EBRD) is satisfied with cooperation with Azerbaijan in the field of renewable energy, said EBRD Vice President for Policy and Partnerships Mark Bauman.

He made the remarks at the event “Financing Low Carbon Technologies including Nuclear Power” at COP29, Caliber.Az reports.

“It is very important for the EBRD to support countries' energy transformation. We have been successful in supporting countries to expand the use of alternative energy and have supported the first large-scale renewable energy projects in Azerbaijan. Our assistance goes beyond financial support - we also work in the policy area, which is key to creating a favourable environment for alternative energy development,” he said.

Notably, on November 11, Azerbaijan’s Economy Minister Mikayil Jabbarov met with EBRD First Vice President Jürgen Rigterink to discuss strengthening their partnership, particularly in green economy and climate action, during COP29 in Baku. 

The meeting emphasized Azerbaijan's commitment to global climate efforts, with a focus on renewable energy, public-private partnerships, and low-carbon solutions. Rigterink highlighted the EBRD's support for Azerbaijan's socio-economic development, noting significant opportunities for expanding collaboration in sustainable projects.

By Khagan Isayev