BAKU, Azerbaijan, July 1. The Azerbaijani government's goal is to turn the country into a green energy exporter, Azerbaijani Finance Minister Sahil Babayev said at the signing ceremony of a loan agreement between the Azerbaijani government and the World Bank on the "project to expand the use of renewable energy sources," Trend reports.
During his speech, he highly appreciated the World Bank Group's continued support for development programs implemented in Azerbaijan.
At the same time, the minister noted the importance of the loan agreement, signed within the framework of expanding cooperation with international financial institutions on project financing in accordance with the instructions of President of Azerbaijan Ilham Aliyev, in terms of accelerating the transition to sustainable and green energy sources in the energy sector of our country, ensuring energy security and combating climate change.
Babayev noted that Azerbaijan has rich renewable energy resources, especially high technical potential in the fields of solar, wind, and hydropower, and said that the government's goal is to turn the country not only into an energy producer, but also into an exporter of green energy.
The minister emphasized that within the framework of the COP29 presidency, Azerbaijan is committed to the green energy agenda and is actively investing in increasing the role of renewable sources in the energy balance, expanding transmission infrastructure, introducing energy storage systems, and improving management mechanisms.
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Source: en.trend.az
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