Azerbaijan is not only an energy supplier, but also has the potential to become a coordinating energy hub in the region, said Wiebke Schloemer, Regional Director for the Western Balkans and South Caucasus at the International Finance Corporation (IFC), during the meeting of the Green Energy Advisory Council held in Baku, APA-Economics reports.
According to her, the energy transition should be accompanied not only by an increase in generation capacities but also by the modernization of networks and the strengthening of institutional capacities.
The IFC official noted that the institution’s priority is mobilizing private investment and applying structuring mechanisms to finance large-scale energy projects. Within this framework, public-private partnership (PPP) projects and large-scale renewable energy initiatives are being supported.
Wiebke Schloemer emphasized that the offshore wind roadmap has identified a technical potential of approximately 160 gigawatts, indicating long-term investment opportunities.
She added that IFC will continue to promote private sector participation in strategic infrastructure projects together with the Government of Azerbaijan and international partners.
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