Azerbaijan Secures $173.5 Million World Bank Loan for Green Energy Expansion
Mar 29, 2025
The World Bank has approved a $173.5 million loan to support Azerbaijan’s Scaling-Up Renewable Energy (AZURE) project, aimed at strengthening the country’s electricity infrastructure and increasing renewable energy integration.
According to a statement on the World Bank’s official website, the AZURE project will help modernize Azerbaijan’s electric transmission system, creating a more favorable environment for private sector investments, particularly in wind energy.
The initiative is expected to unlock $384 million in private investments, reinforcing key transmission lines and substations to connect the 240-Megawatt Absheron-Garadagh Wind Power Plant to the national grid. Additionally, it will expand the 330/500 kV high-voltage network, ensuring stable integration of up to 1 gigawatt of privately developed renewable capacity and preparing the grid to accommodate 1.8 gigawatts of renewable electricity from future private investments.
This is the first World Bank-supported project aligned with Azerbaijan’s green energy corridor initiative, marking a significant step toward the country’s renewable energy transition.
Azerbaijan, a World Bank member since 1992, has received $3.5 billion in total loan commitments across 50 projects.
LATEST
Jun 06, 2026
EBRD regional report: increases in global energy prices could generate a revenue windfall for Azerbaijan
News
Azerbaijan’s economy has lost momentum in the past year, with declining hydrocarbon output pushing the economy into contraction in early 2026, according to the latest edition of a flagship economic report by the European Bank for Reconstruction and Development (EBRD), published on 3 June.
Jun 06, 2026
Horlemann: Germany and Azerbaijan working on new green hydrogen project – EXCLUSIVE
News
Germany and Azerbaijan are preparing new projects to expand cooperation, including in the field of green hydrogen, Germany's Ambassador to Azerbaijan Ralph Horlemann told Report.
Jun 04, 2026
EU and Azerbaijan resume negotiations on a new bilateral agreement
News
On 2 and 3 June, Baku hosted the next round of negotiations of Partnership Priorities and the new Comprehensive Agreement between Azerbaijan and the European Union.
Jun 02, 2026
Azerbaijan Is a Reliable Partner for Bulgaria and the EU Countries
News
Kiril Temelkov, Deputy Minister of Energy of the Republic of Bulgaria
Jun 01, 2026
Borrero: EU wants cooperation with Azerbaijan on clean electricity trade
News
Azerbaijan has very ambitious plans for the use of wind energy in the Caspian Sea, and the European Union (EU) also plans cooperation in the field of clean electricity trade through a green energy corridor in the future, Cristina Lobillo Borrero, Director of the Energy Platform and International Relations Group at the European Commission"s Directorate-General for Energy (ENER), said at the 31st Baku Energy Forum.
May 16, 2026
EU's traditional EuroVillage event to be held in Azerbaijan's Ganja this year
News
The European Union's (EU) traditional EuroVillage event will be held in the city of Ganja in June of this year, EU Ambassador to Azerbaijan Marijana Kujundžić announced at an event held on the occasion of Europe Day.
May 06, 2026
Azerbaijan, EU explore cooperation
News
On May 5, Jeyhun Bayramov, Azerbaijan’s Minister of Foreign Affairs, met with Kaja Kallas, High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission.
Apr 28, 2026
Azerbaijan-Czechia business forum held in Gabala
News
On April 27, an Azerbaijan-Czechia business forum was held in Gabala with the participation of President of the Republic of Azerbaijan Ilham Aliyev and Prime Minister of the Czech Republic Andrej Babiš.
Apr 24, 2026
Several documents signed as part of Azerbaijan-Latvia business forum
News
As part of the Azerbaijan–Latvia business forum, Memorandums of Understanding were signed between AZPROMO and the Latvian Chamber of Commerce and Industry, as well as “Caspian Energy Club International” LLC and “Power House Latvia” LCC.
Apr 20, 2026
Latvia engaged in fostering practical cooperation between Azerbaijan and EU - FM (Exclusive interview)
News
Latvia is engaged in fostering practical cooperation between Azerbaijan and the European Union (EU), Minister of Foreign Affairs of Latvia, Baiba Braže said in an exclusive interview
Apr 17, 2026
Azerbaijan, EU mull resuming negotiations on new bilateral agreement
News
On April 16, a meeting between delegations from Azerbaijan and the European Union took place in Brussels to resume negotiations on a new bilateral agreement and hold further discussions on the Partnership Priorities document
Apr 09, 2026
Azerbaijan Introduces I-REC(E) Mechanism – A New Milestone in Renewable Energy Certification
News
Azerbaijan has taken a significant step towards advancing its renewable energy sector and achieving its decarbonisation targets by introducing the International Renewable Energy Certificate system – I-REC(E).
