The Energy Efficiency Fund (EEF) was established by Decree No. 13 of the President of the Republic of Azerbaijan, dated March 1, 2024. The purpose of establishing the EEF is to stimulate and promote the efficient use of energy resources and the implementation of energy efficiency measures.

The manager of the EEF’s funds is the Ministry of Energy of the Republic of Azerbaijan, as represented by the Azerbaijan Energy Regulatory Agency.

Opportunities created by the Fund

The Fund was established to stimulate and promote the efficient use of energy resources and the implementation of energy efficiency measures. The preferential loans, pilot projects to be implemented, grants and subsidies to be allocated by the Agency from the EEF’s funds will create conditions for the development of the country’s energy sector, efficient and sustainable use of energy resources, including the reduction of negative impacts on the environment.

Directions for utilization of EEF’s funds:

• supporting the implementation of energy efficiency measures and state programs;
• implementation of an energy management system;
• implementation of smart meters and systems;
• implementation of cogeneration and high-efficiency cogeneration units;
• use of renewable energy sources;
• financing the scientific and technical activities stipulated in Article 19.2 of the Law of the Republic of Azerbaijan on the Efficient Use of Energy Resources and Energy Efficiency.