BAKU, Azerbaijan, October 29. The Asian Development Bank (ADB) is actively supporting the development of renewable energy and energy efficiency in Azerbaijan, Sunniya Durrani-Jamal, ADB Country Director for Azerbaijan, said during her speech at the 13th Caspian Energy Forum in Baku, Trend reports.
Durrani-Jamal noted that the bank invests in generation, grid infrastructure, and new technologies, including hydrogen, while also mobilizing private capital through “green” bonds and guarantees.
Over more than 25 years of operations, ADB has invested around $5.5 billion in Azerbaijan, with around $4.4 billion directed to the public sector and $1.2 billion to the private sector. The current investment portfolio focuses on renewable energy, including hydro, solar, and wind generation, as well as emerging areas such as geothermal energy and hydrogen.
Durrani-Jamal emphasized that key factors for investors include the political and regulatory environment, in which Azerbaijan demonstrates clear targets: achieving net-zero emissions by 2050 and generating 30 percent of electricity from renewables.
“For a successful energy transition, it is important not only to expand generation but also to develop sustainable transmission and storage networks and improve energy efficiency across sectors,” the ADB director noted.
She added that the bank is actively mobilizing private capital through green bonds and other financial instruments, supporting carbon pricing mechanisms, and implementing risk mitigation measures, including guarantees, insurance products, and project infrastructure support.
“We take a comprehensive approach to financing, from generation and grids to energy efficiency and hydrogen, to create a sustainable and investor-friendly energy sector in Azerbaijan,” the ADB official highlighted.
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