BAKU, Azerbaijan, September 25. Azerbaijan and countries in the region should more actively coordinate rules for exporting green energy and develop joint investment projects to enter European energy markets, the senior energy specialist at the World Bank Group, Florian Kitt said, Trend reports.
He made the remark at the World Bank Group, at the Azerbaijan and Central Asia Green Energy Week in Baku.
According to him, the first step is to develop the regionalization of energy markets, particularly in the electricity sector.
"There have already been positive changes in this direction: Georgia is a member of the European Energy Community, and Azerbaijan plans to complete the full separation of functions in the electricity sector by 2028. Today, we are mainly talking about bilateral agreements on electricity exports. But in order to create a system similar to the single market of the European Union, serious harmonization of rules and regulations will be required," Kitt noted.
He recalled that Azerbaijan already has experience connecting to Turkey's power grid, which is linked to the European market, having fulfilled a number of requirements in this area.
“In addition, joint planning and investment are important. In this context, Azerbaijan, together with Georgia, Romania, and Hungary, has initiated the creation of a special purpose vehicle (SPV) in Romania to develop a ‘green energy port,’” Kitt added.