Baku: The European Bank for Reconstruction and Development (EBRD) has financed 1.2 gigawatts of renewable energy capacity in Azerbaijan, as stated by Sule Kili§, EBRD Head of Energy for Eurasia, during the 31st Baku Energy Forum.

According to Azeri-Press News Agency, Azerbaijan and Central Asia are prioritized regions for the EBRD. Kili§ highlighted that out of Azerbaijan's current 2 gigawatts of renewable energy capacity, a significant 1.2 gigawatts have been financed by the EBRD.

In Central Asia, the EBRD has financed renewable energy projects with a total capacity of 6.5 gigawatts, with investments reaching £4.2 billion. The EBRD official emphasized the importance of proper project preparation, the creation of a transparent regulatory environment, and effective risk management as essential conditions for attracting financing to energy transition projects.

The EBRD aims to mobilize an additional £3 in investment for every £1 it provides in financing. It collaborates closely with governments, investors, and other financial institutions to achieve this target.