BAKU, Azerbaijan, September 2. The Director General for the Energy Sector at the Asian Development Bank (ADB), Priyantha Wijayatunga, has discussed the planned enhancement of green corridors with Azerbaijani officials during his visit to Baku, TurkicWorld reports.
The parties also discussed Azerbaijan's strategic development priorities, focusing on energy transition and expansion, renewable energy infrastructure, energy grid expansion, and decarbonization.
Wijayatunga met with Finance Minister Samir Sharifov and other officials, emphasizing the importance of accelerating Azerbaijan's energy transition.
He noted that as ADB and Azerbaijan mark 25 years of partnership, the ADB reaffirms its commitment to supporting the country's development goals.
Over the past 25 years, ADB has invested $1.7 billion in Azerbaijan's energy sector. The future partnership between Azerbaijan and ADB will focus on increasing the share of renewable energy to 30 percent by 2030 and developing green corridors, including a project to lay a cable across the Caspian Sea, and strengthening transmission and distribution networks.
Wijayatunga further discussed the successful establishment of the 230 MW Garadagh Solar Power Plant by Masdar near Alat, the first renewable solar energy project in Azerbaijan co-financed by ADB. Additionally, he highlighted future solar and wind energy projects totaling one GW.
He congratulated the Ministry of Energy on the recent launch of a pilot 100 kW floating solar photovoltaic system on Lake Boyukshor, near the Baku Olympic Stadium, the main venue for COP29.
ADB is also supporting Azerbaijan's leadership of COP29, including capacity building ahead of the UN Climate Summit in Baku in November.
Since Azerbaijan became a member of ADB in 1999, the bank has provided over $5 billion to the public and private sectors in areas such as transportation, energy, healthcare, and agriculture.
ADB remains committed to achieving a prosperous, inclusive, and sustainable Asia-Pacific region while continuing efforts to eradicate extreme poverty. ADB was established in 1966 and has 68 members, including 49 regional shareholders.
