IFC: Azerbaijan may go beyond domestic electricity demand

Azerbaijan and the region need more large-scale renewable energy projects implemented at the interregional level, Vyacheslav Hordiyenko, an investment specialist at the International Finance Corporation (IFC), said during the Azerbaijan & Central Asia Green Energy Week 2025 in Baku, Report informs.

He noted that the Black Sea energy cable project is of enormous strategic importance.

"However, its implementation will require a colossal effort and close coordination. This is precisely the area where the World Bank is already undertaking complex multilateral coordination and conducting initial studies. Overall, the region needs more interstate cooperation projects. If this happens, Azerbaijan, as a leading electricity producer, will be able to expand beyond domestic demand," the IFC specialist emphasized.

However, according to Hordiyenko, this requires more than just Azerbaijan's efforts: "Central Asian countries must also be involved in the process. Then local production capacity will begin to develop, making such initiatives commercially viable."