Minister of Energy Parviz Shahbazov has met with a delegation led by Satya Srinivas, Executive Director of the Board of Directors of the Asian Development Bank (ADB).

According to the Ministry, reporting to Operativ Media, the long-term energy cooperation between Azerbaijan and the ADB was highly appreciated at the meeting. Discussions covered renewable energy, regional green energy corridors, strengthening power grids, developing offshore wind energy projects, and advancing partnerships in heating supply.

The minister provided information on Azerbaijan's role in energy security, the diversification of its energy system, and the work being done to develop renewable energy.

It was noted that the share of renewable energy sources in the total installed capacity is expected to exceed 30 percent next year. A grid study is being conducted to determine the possibilities of integrating additional green energy capacities into the system. Against the backdrop of artificial intelligence, data centers, and digitalization increasing electricity demand,

the importance of developing transmission capacities and regional interconnectors alongside generation was emphasized. The work carried out on green energy corridors, including the "Caspian-Black Sea-Europe", "Azerbaijan-Georgia-Turkey-Bulgaria", "Azerbaijan-Central Asia", and corridors towards Turkey and Europe via Nakhchivan, was reviewed. It was noted that the feasibility study for the green energy corridor between Azerbaijan, Kazakhstan, and Uzbekistan, implemented with ADB support, is scheduled to be completed in May 2027.

Information was provided on the results of the feasibility study for the "Caspian-Black Sea-Europe Green Energy Corridor". The potential participation of international financial institutions in financing the project, which is planned to be implemented in three phases with a total transmission capacity of approximately 4 GW, was touched upon.

Views were also exchanged on private sector participation in renewable energy projects, ADB's financial support opportunities, and a technical assistance project for the development of the heating supply sector. During the meeting, it was stated that the ADB's priorities on climate action, the private sector, and regional cooperation align with Azerbaijan's energy agenda, and there is great potential for expanding cooperation, particularly in renewable energy and regional connectivity.