Azerbaijan is considering adding nuclear energy as one of the options in its future energy solutions.

Axar.az reports that this was stated by Rafael Grossi, Director of the International Atomic Energy Agency (IAEA), during the "Financing Low Carbon Technologies, Including Nuclear Energy" event held within the framework of the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29).

He mentioned that as an international organization, the goal is to ensure that countries turning to nuclear energy undertake this process safely and without issues:

"This issue requires us to discuss financing. As in all fields, finance is very important here as well. In the past, there were some barriers and limitations in the nuclear field, but I do not wish to dwell on that. I must note that global interest in nuclear energy is increasing. Some countries have new projects, and during COP, there were many interesting discussions about what we call ‘New Nuclear,’ especially small modular reactors. These reactors are an innovative development that is attracting everyone’s attention these days."

The IAEA Director emphasized that particular industries, that need to decarbonize and require large amounts of energy, are now looking to the nuclear industry to meet these demands:

"In this discussion, we want to emphasize the importance of financing structures that align with market realities. International financial institutions are falling behind in many respects in responding to the demands of the market, and opportunities must be provided to address this issue."