Saudi Electricity and Azerenergy Sign MoU to Boost Renewable Integration at COP29 in Baku

The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.

Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.

The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.

Azerbaijan has launched a "Green Growth Portal", which includes more than 300 digital aggregates aimed at increasing transparency, taking into account climate protection, Economy Minister Mikail Jabbarov said on Wednesday at a high-level meeting "Energy Cooperation: Moving towards net zero".