The Executive Director of the Asian Development Bank visited the Ministry of Energy

 

The Minister of Energy Parviz Shahbazov met with Tony MacDonald, the Executive Director of Asian Development Bank. Speaking about the reforms and projects in the energy sector, the Minister of Energy underlined the importance of international financial institutions, including ADB in this process. It was also stated that the optimization of generation powers and transmission system and recovery programs have been developed, and the actions taken in this direction would further strengthen the sustainability of country's power supply system. Targets and projects aimed at expanding renewable energy sources will provide eco-friendly clean energy production, while also helping diversify energy consumption. Long-term and efficient cooperation with ADB will contribute to the actions undertaken at this stage.

Tony McDonald, the Executive Director noted that ADB has been interested in further support of the development of cooperation in the energy sector. He also praised the actions taken under the pilot project "Technical Support and Knowledge Sharing for the Development of a Floating Solar Panel System" and under the second phase of technical assistance project "Power Sector Financial Recovery Plan in Azerbaijan" as a new opportunity for cooperation.

Further discussions were held on issues such as attracting investors to renewable energy, energy efficiency, draft law “on Regulator” and other legislative acts.

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