Azerbaijan seeks concessional financing for energy interconnectors

Azerbaijan is seeking to attract concessional financing for energy interconnectors, Deputy Energy Minister Orkhan Zeynalov said during panel discussions held on the second day of Baku Energy Week, Report informs.

According to the deputy minister, opportunities are being considered for energy interconnector projects involving Azerbaijan to benefit from concessional financing.

"In the European Union, strategic green energy projects receive significant financial support after obtaining the status of a Project of Mutual Interest or a Project of Common Interest. In some cases, such projects are allocated concessional financing, including grants, of up to 34%," Zeynalov said.

Zeynalov said he hopes Azerbaijan's projects will also be able to benefit from these opportunities, adding that talks with potential investors are currently underway.