Azerbaijan and the International Finance Corporation (IFC) discussed the strategic partnership agreement on the development and transport of green energy among Azerbaijan, Georgia, Romania and Hungary, energy transition, hydrogen energy, and other issues, said the Azerbaijani Ministry of Energy.

This issue was discussed at the meeting between Azerbaijani Minister of Energy Parviz Shahbazov and IFC’s Regional Director for Europe Rana Karadsheh.

According to the ministry, the sides addressed energy issues in the economic development of Azerbaijan, as well as traditional and green energy projects implemented in the country. They also reviewed prospects for accelerating private sector involvement in the energy sector and developing Azerbaijan-IFC cooperation.

The parties went over prospects for energy collaboration, as well as regarded joint projects as successful development stories of relations.

On December 21, 2022, the Azerbaijan Energy Regulatory Agency (AERA) under the Energy Ministry and the International Finance Corporation have discussed attracting private sector investments in the energy sector of Azerbaijan. This issue was discussed between AERA Board Chairman Samir Akhundov and IFC County Representative in Azerbaijan Aliya Azimova.

The sides reviewed public-private partnership on renewables, public sector involvement in the field, and electricity exports, and tariffs.