IAEA Director: Azerbaijan considers adding nuclear to its energy solutions

Azerbaijan is considering adding nuclear energy as an option among energy solutions for its future, Rafael Grossi, Director of the International Atomic Energy Agency (IAEA), said during an event titled "Financing Low Carbon Technology Including Nuclear Energy" held on the sidelines of COP29, Report informs.

Grossi stated that as an international organization, their goal is to ensure that countries aiming to turn to nuclear energy can implement this process safely: "This issue requires us to discuss financing. As in all areas, finance is very important here. There have been several obstacles and limitations in the nuclear field in the past, but I don't want to discuss that. I should note that interest in nuclear energy is increasing worldwide. Some countries have new projects, and during COP, many interesting meetings were held about what we call New Nuclear, especially small modular reactors. These reactors are an innovative development that's catching everyone's attention these days."

The IAEA director emphasized that industrial sectors, particularly those needing decarbonization and large amounts of energy, are now expecting solutions from the nuclear industry to meet these demands: "The point we want to emphasize in this discussion is the importance of financing structures that adapt to market realities. International financial institutions are lagging behind in many aspects in meeting market demands, and opportunities should be presented regarding the solution to this issue."