Mikail Jabbarov: Azerbaijan is building "green bridges" between Europe and Central Asia

Azerbaijan strengthens partnership with EU and Central Asian countries to expand renewable energy supply opportunities.

As Report informs, this was stated by Azerbaijan's Minister of Economy Mikayil Jabbarov at the panel discussion "Azerbaijan: Emerging Gateway to Green Growth and Connectivity" within the framework of the annual meeting of the European Bank for Reconstruction and Development (EBRD) in London.

He noted that all of Azerbaijan's renewable energy projects are implemented by the private sector - predominantly with the participation of foreign, as well as local investors.

"The Government of Azerbaijan, through SOCAR, is open to acquiring a minority stake in projects at the request of investor partners. Thus, when we invest national resources alongside foreign investments, this is a clear signal of our commitment to energy transition," the minister emphasized.

He added that for Azerbaijan, the transition to "green" energy is not only an ideological choice but, above all, an economically sound decision.

"Despite the fact that a significant portion of state revenue is still generated from traditional energy sources, we are confident that sustainable development of renewable energy sources is possible when such projects have a solid economic foundation and are of interest to investors," noted Mikayil Jabbarov.