Minister Jabbarov outlines Azerbaijan’s efforts to lead regional green energy transition

Azerbaijan is pursuing a bold strategy to position itself as a regional hub for green energy and sustainable connectivity, said Mikayil Jabbarov, Minister of Economy of Azerbaijan, during the panel discussion titled “Azerbaijan: Emerging Gateway to Green Growth and Connectivity” at the European Bank for Reconstruction and Development (EBRD) Annual Meetings in London, 1xeber.media reports.

Jabbarov noted Azerbaijan’s expanding role in regional clean energy projects. He highlighted ongoing initiatives aimed at exporting renewable energy from Azerbaijan and Georgia to European markets. "Of course, the projects that are initiated, including the green connectivity... aim to bring renewable energy produced in Azerbaijan, in Georgia, to European markets. It wouldn’t be possible without strong political support and cooperation".

He underlined that this cooperation now stretches beyond immediate neighbors. "It goes beyond Hungary, Romania, and Bulgaria. But we are also working with the region to the east of Azerbaijan, with Central Asia. And again, the example here of determination to link our energy systems - including and mainly focused on renewables - Kazakhstan and Uzbekistan, are happening as we speak".

Turning to Azerbaijan’s domestic progress, Jabbarov pointed to recent efforts to create an enabling legislative environment for green energy development. "One are the aims - we are working towards these numbers - [and] secondary specific policy tools to enable better and faster adaptation," he said. "Because it’s not just - to me at least - energy transition is not just about how much energy you can produce, but it’s also about your consumers".

He also emphasized Azerbaijan’s approach to risk-sharing with investors as part of the country’s green transition. "All renewable projects in Azerbaijan are done by the private sector - mainly by foreign investors, also by local. But the government, acting via 100% state-owned SOCAR, is taking up and open to taking up any minority interest in the project as investor partner requires," Jabbarov stated. "So by putting our dollar, euro, next to the investors’ ones, I think this is a very straightforward signal of the commitment to the energy transition that we do".