We have financed 1.2 gigawatts of renewable energy capacity in Azerbaijan, Sule Kılıç, EBRD Head of Energy for Eurasia, said at the 31st Baku Energy Forum, APA-Economics reports.
According to her, Azerbaijan and Central Asia are among the priority regions for the European Bank for Reconstruction and Development (EBRD).
Kılıç noted that out of Azerbaijan’s existing 2 gigawatts of renewable energy capacity, 1.2 gigawatts have been financed by the EBRD.
“In Central Asia, we have financed renewable energy projects with a total capacity of 6.5 gigawatts to date. Investments in these projects have amounted to €4.2 billion,” he emphasized.
According to the EBRD official, proper project preparation, the establishment of a transparent regulatory environment, and effective risk management are key conditions for attracting financing to energy transition projects.
She noted that the EBRD seeks to mobilize an additional €3 in investment for every €1 it provides in financing and works closely with governments, investors, and other financial institutions to achieve this goal.
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