Azerbaijan has a huge potential for renewable energy, Denis Shulakov, First Vice President of Gazprombank, Head of the Gazprombank’s Capital Markets Block, said, Trend reports.

Shulakov made the remark at an online meeting with Azerbaijani Energy Minister Parviz Shahbazov.

During the meeting, the parties discussed prospects for cooperation in the energy sector.

The sides also noted the potential of Azerbaijan in terms of renewable energy sources, including in the territories, previously liberated from Armenian occupation.

Furthermore, ongoing reforms in the sector, the work done and planned plans, as well as the opportunities that this process will create for the private sector, were discussed.

Gazprombank representatives were informed about the mechanisms of ‘green bonds’, ‘green investments’ and ‘green financing’, which can be used for the transition to a low-carbon economy, expanding the use of renewable energy sources and energy efficiency measures.

Source: TREND News Agency