World Bank to boost support for Azerbaijan’s marine wind energy development

Azerbaijan's First Deputy Finance Minister Anar Karimov has held a meeting with World Bank’s ongoing task force chief Roger Coma Cunill and head of a newly established task force Sameh Mobarek, during which the sides discussed World Bank's support for Azerbaijan in implementing the “Integration of Renewable Energy Sources into the Power System (AZURE)” project.

Karimov said the meeting also focused on the results of technical assistance provided under the partnership between the Azerbaijani government and the World Bank, Caliber.Az reports, citing the Ministry of Finance.

He noted that more than 30 years of successful bilateral cooperation have made the World Bank one of Azerbaijan’s key development partners.

He also said that the AZURE project, which is of strategic importance within this partnership, has made a significant contribution to strengthening the transmission grid, enabling the integration of 1 GW of solar and wind power plants built by Masdar into the national energy system.

Addressing prospects for financing battery energy storage systems (BESS) under the AZURE project, Karimov mentioned that the initiative is particularly important for increasing grid flexibility, enabling broader integration of renewable energy sources, and strengthening overall power system resilience.

In turn, World Bank representatives expressed satisfaction with cooperation in Azerbaijan’s energy sector and said that technical support would continue in areas including power grid modernisation, tariff reform, and offshore wind energy development.

Additionally, they emphasised the importance of turning technical assistance outcomes into more sustainable and efficient investment projects, as well as strengthening coordination between relevant agencies.

The meeting also included an exchange of views on priority investment directions for the next stage, the development of renewable energy projects, and further expansion of cooperation with the World Bank.

By Bakhtiyar Abbasov