BAKU, Azerbaijan, September 25. PASHA Bank is
considering additional renewable energy projects in Azerbaijan,
Deputy Chairman of the Board of PASHA Bank Bakhruz Nagiyev said on
Friday at the 2nd Azerbaijan International Investment Forum in
Baku, Trend's correspondent reports from the event.
"Azerbaijan has committed to increasing the share of renewable
energy by 2030. We are witnessing the attraction of a large volume
of investment. Prominent international players such as Masdar and
ACWA Power are already operating in Azerbaijan, implementing major
projects in the country," he said.
B. Nagiyev emphasized that local companies, including
Azerbaijan’s energy companies, are also actively participating in
these projects alongside local partners, including banks.
"We have also financed one such project in Nakhchivan and are
considering additional projects in other parts of the country.
International players can participate in financing renewable energy
projects, as these require longer financing terms and more
favorable conditions. "This is precisely where international
players can get involved, as they have far more experience in the
renewable energy sector," B. Nagiyev stated.
He also noted the potential for cooperation with international
development banks: "I believe we can achieve much more together
with development banks. The European Bank for Reconstruction and
Development (EBRD) has invested €870 million in Azerbaijan;
however, the share of investment in the financial sector stands at
7 percent, leaving significant scope for expanding cooperation with
the corporate sector."
