IFC: Azerbaijan's energy transition could shift global energy balance

Projects in the field of renewable energy (RE) being implemented in Azerbaijan will bring benefits not only to the region but also to the world as a whole, Leyla Huseynli, a sustainable finance expert at the International Finance Corporation (IFC), said during the event "Green Energy Week 2025: Azerbaijan and Central Asia" in Baku, according to Report.

"Azerbaijan positions itself as a regional center for green energy. We see the implementation of numerous projects, including through public-private partnership mechanisms, aimed at the development of ‘green hydrogen' and other energy transition initiatives. This can benefit not only the region but the entire world," she noted.

According to the representative, the introduction of energy-efficient solutions and ‘green certificates' for countries provides significant advantages – reducing carbon emissions, achieving long-term savings, and increasing efficiency.

"But there is another side. In a country where about 90% of buildings rely on gas supply, there is a noticeable gap between domestic gas tariffs and export prices. If we reduce domestic consumption and free up gas for export, this will generate additional revenue for the state. These funds can then be directed toward further ‘greening' of the economy. This is a milestone that governments should pay attention to. Such an approach could become a turning point not only for Azerbaijan but also on a global scale," emphasized Huseynli.