According to her, share of solar energy in EBRD’s portfolio is increasing: “We have invested $2.3 billion in renewable energy sector since 1992. However, economic crisis and climate change cause several problems in this field. This happened in my country, too. Identification of regulating environment in this condition would be interesting for investors. The countries may receive assistance to achieve their goals on renewable energy. What the EBRD can do regarding renewable energy sources? We can influence formation of regulating environment. We are negotiating with government on ways to form political framework. We know that the renewable energy causes problem for network and therefore, these issues should be solved. Investors come to Azerbaijan, rely on EBRD to hold talks with the government. We want to work in this field with Azerbaijan too. A framework should be devised for this. Costs of renewable energy are still higher than traditional energy. Network investments are required. The countries need help to diversify their economies”.
Touching upon the Southern Gas Corridor, the Director noted that there is a mutual link between this project and renewable energy project in Europe: “The European Commission supports this project. This project allows European countries to diversify their supply. The Southern Gas Corridor is more sustainable than other projects”.