World Bank group to help Azerbaijan launch offshore wind sector

They signed a memorandum of understanding to reduce Azerbaijan’s reliance on fossil fuels for electricity generation and facilitate private sector participation in the power sector.

The IFC – a sister organisation of the World Bank – and Azerbaijan’s ministry of energy would create a roadmap for developing the country’s offshore wind sector.

They would continue to work together as the ministry implements this roadmap and build sustainable public-private partnership in the sector, the organisations stated.

By transitioning from oil and gas to renewable energy, Azerbaijan could reduce greenhouse gas emissions and vulnerability to volatile fuel prices, the IFC added.

Wind Power Monthly