On February 19, the Ministry of Energy of Azerbaijan reported that Azerbaijan engaged in discussions with the World Bank regarding cooperation on various aspects of energy transition and sustainability in Washington. 

Energy Minister Parviz Shahbazov, during his visit to the United States, met with Antonella Bassani, the vice president of the World Bank for Europe and Central Asia. The meeting encompassed a wide range of topics, including the connection of Azerbaijan's 760 MW Banka and Bilasuvar solar energy projects to the energy system, deployment of rooftop solar panels, implementation of energy storage systems, exploration of "green hydrogen" initiatives, energy efficiency measures, and emission reduction strategies.

Key points discussed during the meeting included increasing the World Bank's support for renewable energy and energy efficiency initiatives within Azerbaijan's energy transition framework. Minister Shahbazov emphasized Azerbaijan's commitment to developing renewable energy for both domestic consumption and export, modernizing the energy network, and fostering the participation of the World Bank in large-scale endeavors related to the regional "green energy" corridor.

Particular attention was directed towards integrating eight wind and solar power plants into the energy system by 2027 in collaboration with the World Bank, the European Bank for Reconstruction and Development, and other potential partners. Enhancing the "Caspian-Black Sea-Europe" green energy corridor and exploring offshore wind energy possibilities in the upcoming years were also focal points of discussion.

The meeting underscored the significance of cooperation in positioning Azerbaijan as a supplier of "green energy." Plans for establishing a Joint Enterprise and preparing the technical and economic rationale for the corridor covering four countries were highlighted.

Vice-President Antonella Bassani reiterated the World Bank's commitment to supporting Azerbaijan in its "green energy transition" efforts. As the country chairing the COP, the World Bank expressed readiness to assist Azerbaijan in demonstrating progress, implementing joint projects swiftly, and executing an ambitious reform agenda in the realm of sustainability and energy transition.