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Aze.Media > COP29 > Azerbaijan and the IAEA to cooperate in energy planning
COP29News

Azerbaijan and the IAEA to cooperate in energy planning

During the event “Financing Low-Carbon Technologies, including Nuclear Energy,” co-organized by the Presidium of COP29 and the International Atomic Energy Agency (IAEA), a Memorandum of Understanding (MoU) was signed between the Ministry of Energy of Azerbaijan and the IAEA.

AzeMedia
By AzeMedia Published November 14, 2024 1.7k Views 3 Min Read
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According to information from the ministry, the MoU on cooperation in energy planning in the context of the Paris Agreement was signed by Azerbaijan’s Minister of Energy Parviz Shahbazov and IAEA Director-General Rafael Mariano Grossi.

Minister P. Shahbazov described the MoU signed with the IAEA on cooperation in energy planning as an expression of Azerbaijan’s intent to further strengthen its ambitions in transitioning to clean, green energy: “Cooperation within the Atoms4NetZero initiative, focusing on analyzing the potential of nuclear energy, including small modular reactors (SMRs), in the shift to clean energy, will provide new momentum to Azerbaijan’s energy sector. The main goal of this memorandum is to conduct joint research and implement projects on nuclear energy development. Our cooperation with the IAEA will advance Azerbaijan’s future use of nuclear energy and create opportunities for further diversifying the energy system.”

IAEA Director-General Rafael Mariano Grossi stated, “We welcome the framework for cooperation established today between Azerbaijan and the IAEA, as it will play a crucial role in long-term strategic planning and capacity building to ensure the success and resilience of the clean energy transition. We look forward to working together to explore Azerbaijan’s nuclear energy potential within the commitments of the Paris Agreement.”

At the event, Deputy Minister of Energy Orkhan Zeynalov spoke about Azerbaijan’s green energy projects, plans for reducing carbon emissions, and energy transition goals. He emphasized that the energy transition highlights the need for all types of clean energy. The Deputy Minister also noted that the widespread adoption and development of nuclear technologies is possible not only with political will but also with significant financial support: “The primary task here is to attract these resources and allocate them fairly so that every country, especially developing nations, can equally participate in this transition.”

The event continued with panel discussions.

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