Sule Kilic: EBRD ready to support Azerbaijan with future renewables tenders

The European Bank for Reconstruction and Development (EBRD) stands ready to continue supporting Azerbaijan with future renewables tenders, Sule Topcu Kilic, Director, Head of Energy Eurasia at the EBRD, said in an interview with Report.

"We're glad to have supported Azerbaijan's first-ever renewable energy auction. It was a very important milestone showing that a competitive, transparent tender can deliver highly competitive tariffs in the country. It also sent a clear signal to potential investors, demonstrating Azerbaijan's preparedness to scale clean energy through a market-based framework," said Kilic.

The regional director noted that Azerbaijan has the potential to increase its renewable energy capacity through solar and wind power.

"However, it is important to develop it together with the necessary infrastructure, including transmission grid, regional interconnections and storage solutions, including green hydrogen. As EBRD, we stand ready and looking forward to continuing to support the Government with future renewables tenders, to support the 'Azerbaijan 2030' strategy for green growth and directions for its Low-Carbon Pathway targeting a 40% reduction in greenhouse gas emissions by 2050," Kilic told Report.

The first renewable energy auction in the history of Azerbaijan was held in 2024. The subject of the tender was the construction of a 100 MW solar photovoltaic power plant in the Gobustan district. The winner of the auction was Universal International Holdings Limited (China). The plant is expected to be commissioned in 2027 and will generate approximately 260 million kWh of electricity per year.

Read the full interview here.