BAKU, Azerbaijan, September 25. The World Bank intends to expand cooperation with Azerbaijan in the field of electric power and geothermal energy, the Senior Energy Specialist at the World Bank, Florian Kitt said at the Azerbaijan and Central Asia Green Energy Week 2025 in Baku, Trend reports.
According to Trend, this was announced by Florian Kitt, Senior Energy Specialist at the World Bank, at the event “Green Energy Week 2025 Azerbaijan and Central Asia” in Baku.
“We have consolidated all guarantee operations under the umbrella of the Multilateral Investment Guarantee Agency (MIGA), which allows us to provide them from a single center. This approach has been successfully used for the Southern Gas Corridor, and now we want to implement it in the electricity sector as well,” he stated.
Kitt emphasized that Azerbaijan is demonstrating a rapid transition from the traditional oil and gas sector to the use of renewable energy sources.
“The country has already commissioned solar and wind power plants and plans to export green energy to Europe in the future,” he added.