The European Bank for Reconstruction and Development (EBRD) invested €196 million in eight projects across Azerbaijan in 2024, with the majority directed toward the private sector and green economy initiatives, Trend reports.
The EBRD played a significant role at COP29 in Baku, co-financing large-scale solar power plants that have brought the country’s financed renewable energy capacity to over 1.2 GW. The bank also supported Azerbaijan’s first-ever renewable energy auction, paving the way for a 100-megawatt solar power plant in the Garadagh region.
