Azerbaijani Energy Minister Parviz Shahbazov has met with a delegation led by Satya Srinivas, Executive Director of the Asian Development Bank (ADB), to discuss prospects for expanding cooperation in the energy sector.
The meeting reviewed long-standing Azerbaijan–ADB cooperation in energy and explored new opportunities in renewable energy, regional green energy corridors, electricity grid development, offshore wind projects and heating systems, Caliber.Az reports via local media.
Shahbazov briefed the delegation on Azerbaijan’s role in ensuring energy security, diversifying its energy system and expanding renewable generation. The meeting noted that the share of renewable energy in Azerbaijan’s total installed generation capacity is expected to exceed 30% next year.
The sides also discussed a network study aimed at assessing the integration of additional renewable capacity into the power system. Amid growing electricity demand driven by artificial intelligence, data centres and digitalisation, the importance of expanding transmission infrastructure and regional interconnectors alongside generation capacity was emphasised.
The meeting reviewed progress on the Caspian–Black Sea–Europe, Azerbaijan–Georgia–Türkiye–Bulgaria and Azerbaijan–Central Asia green energy corridors, as well as potential routes to Türkiye and Europe through Nakhchivan.
It was noted that the feasibility study for the Azerbaijan–Kazakhstan–Uzbekistan green energy corridor, being conducted with ADB support, is expected to be completed in May next year. The participants also discussed the results of the feasibility study for the Caspian–Black Sea–Europe corridor and potential financing by international financial institutions. The project is planned to be implemented in three stages with a total transmission capacity of approximately 4 gigawatts.
The sides further exchanged views on private-sector participation in renewable energy projects, potential ADB financial support and technical assistance for the development of Azerbaijan’s heating sector.
The meeting concluded that the ADB’s priorities in climate action, private-sector development and regional cooperation closely align with Azerbaijan’s energy agenda, creating significant potential for deeper cooperation, particularly in renewable energy and regional connectivity.
By Vafa Guliyeva
