ENERGY: IRENA Joins Azerbaijan COP29 Presidency to Hold Energy Transition Investment Forum in Baku

COP29 President-Designate Mukhtar Babayev added: “Azerbaijan is committed to a green energy transition and there is currently close cooperation with neighbouring countries in Central Asia in the field of renewable energy. Initiatives such as the recent agreement between the energy ministers of Azerbaijan, Uzbekistan and Kazakhstan on the interconnection of electricity systems are testament to this cooperation. When the world gathers in Baku this November, we hope that COP29 can serve as a springboard for Central Asia to progress on a green and just development pathway, aided by a young population, renewable energy capacity and vibrant economies, and attract the investment needed to continue on this path.”

Minister of Energy Parviz Shahbazov stated: “Azerbaijan is taking crucial steps to realize the initiatives of strategic importance that enable the development of renewable energy with regional projects. Interconnection of the energy systems of Azerbaijan, Kazakhstan, and Uzbekistan and delivering the huge energy potential of the Central Asian countries to the Turkish and European markets through green energy corridors is one of our priorities. We’re convinced that the Energy Transition Investment Forum to be jointly held by IRENA and Azerbaijan during COP29 will be a productive platform that will strengthen the green energy partnership with the Central Asian countries, attract investors and energy companies and facilitate our joint projects.”

The two-day forum will offer a platform for enhanced dialogue among governments, financial institutions, investors, development partners, project developers, and other key stakeholders regarding opportunities and challenges in advancing renewable energy development and scaling up investments in energy transition-related technologies to advance the UAE Consensus Outcomes achieved at COP 28. It will also feature opportunities for bilateral sessions and an exhibition area showcasing renewable energy projects from the region to global investors and stakeholders.