Azerbaijan signs $1.1 million in grant agreements for green energy projects

Grant agreements totaling $1.1 million have been signed for two green energy projects in Azerbaijan.

Operativ Media reports that Azerbaijan's Minister of Energy, Parviz Shahbazov, shared this on his X social media account.

The agreements were signed with the Asian Infrastructure Investment Bank (AIIB), which acts as the implementing partner of the Multilateral Cooperation Center for Development Finance (MCDF) finance facility.

The financial support will be directed toward preparing the Caspian Green Energy Corridor project and conducting a conceptual study on onshore infrastructure to support large-scale offshore wind energy development.

The minister noted that this cooperation will contribute to realizing Azerbaijan's renewable energy potential, expanding its green energy export opportunities, and strengthening regional energy connectivity.