Energy security is closely associated with the availability of natural energy resources. However, nowadays, event resource-rich nations understand the urgency to diversify energy consumption in order to avoid overdependence on their natural resources and vulnerability to energy price fluctuations.
The Central Asia faces these tasks as well and the region is able to significantly enhance energy security by diversifying energy sources in account of alternative green resources.
However, there are two major obstacles on the path of development of renewable energy. First, major renewable energy projects have a lower rate of return than fossil fuel energy projects. Second, many financial institutions consider renewable energy projects as a high-risk.
So, the technological progress is necessary to reduce electricity generation costs and increase the rate of return.
In order to debate over these and other subjects, ADB Institute and the Central Asia Regional Economic Cooperation (CAREC) Institute will hold a training in Baku in 12-13 March.
22 mid-level government officials from the ministries of energy, power, infrastructure, and related departments of CAREC countries (Afghanistan, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, People’s Republic of China, Tajikistan, Turkmenistan, and Uzbekistan) will share critical knowledge on developing renewable energy to achieve energy security.
The organizers of the event hope that the course will help to enhance dialogue among government officials and experts understanding of various policy, regulatory, technical, and financial aspects of renewable energy deployment.
Moreover, the key challenges and opportunities for expanding the renewable energy role in the region will be discussed.
Another objective of the forum is to compile the list of best practices and policy recommendations to promote renewable energy development, energy efficiency, and energy security in Central Asian countries.
The presentation materials and papers on renewable energy development and energy security in Central and West Asia will be uploaded to ADBI and CAREC Institute websites.