2 weeks Ago By ThePrint Team
New Delhi: The Asian Development Bank (ADB) supports Azerbaijan’s investment to diversify its energy supply and encourage sustainable growth, including co-financing a 230-megawatt solar plant owned by Masdar and supporting an innovative floating solar project on Boyukshor Lake, an ADB release stated. The solar plant, located north of Baku, is a significant step in Azerbaijan’s transition to renewable energy, the release noted. This facility, inaugurated in 2023, was co-financed by ADB up to $21.
4 million. The project, developed by Masdar, demonstrates Azerbaijan’s commitment to transitioning to renewable energy. “This demonstrates the commitment of Azerbaijan, as an oil-rich country, to really start its transition into renewable energy.
Of course, the Asian Development Bank is proud to partner with the government of Azerbaijan to achieve this clean, green, and sustainable future,” said Candice McDeigan, former ADB country director for Azerbaijan. The floating solar pilot project on Boyukshor Lake is another example of innovation playing a key role in Azerbaijan’s energy transition. This project, which recently came online, reduces water evaporation and maximizes land use in the city’s heart while helping Azerbaijan to more rapidly decentralize and decarbonize its electricity supply.
Azerbaijan’s green energy transition is a vital part of its response to climate change. COP29, scheduled for November 2024 in Baku, further highlights the country’s commitment to this transition. “The green energy transition is a vital part of Azerbaijan’s response to climate change,” said Leyla Hasanova, youth climate champion for COP29.
“The actions we take and the decisions that we make today will define whether our youth and children will inherit a sustainable future.” Save my name, email, and website in this browser for the next time I comment. Δ document.
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