BAKU, Azerbaijan, July 1. Azerbaijan will be able to connect 1.8 gigawatts of electricity from renewable sources to the grid as a result of a project jointly implemented with the World Bank (WB), the Country Manager for WB in Azerbaijan Stefanie Stallmeister said at the signing ceremony of a loan agreement between the Azerbaijani government and the World Bank on the "project to expand the use of renewable energy sources," Trend reports.
According to her, Azerbaijan is evolving into a "green energy" nation.
"Both during COP29 and after this event, the country has taken steps towards the development of the green energy sector and made commitments in this regard. We hope that after this new project, others will be implemented," Stallmeister explained.
She noted that once the dust settles on the aforementioned project, Azerbaijan will be ready to plug in a whopping 1.8 gigawatts of electricity into the grid.
"This is a great achievement. In addition, this project will create an opportunity to expand private sector investments in this direction, which is important for the development of Azerbaijan's renewable energy sector," the WB official pointed out.
Stressing the ongoing successful cooperation with Azerbaijan, Stallmeister articulated a robust assurance that the WB Group will persist in delivering substantial value to the sustainable and inclusive advancement of the nation by endorsing initiatives that align with Azerbaijan's socio-economic development imperatives.
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