Skopje, 15 November 2024 (MIA) - Minister of Energy, Mining and Mineral Resources, Sanja Bozhinovska, addressed Friday a panel discussion on the importance of country platforms for climate action and mobilization of finances for energy transition as part of the Joint MDB (Multilateral Development Banks) Pavilion at COP29 in Baku.

Minister Bozhinovska highlighted the country's commitment to just energy transition through the Just Energy Transition Investment Platform (JETIP) as a basis for abandoning coal and increasing renewable energy sources, the Ministry of Energy, Mining and Mineral Resources said in a press release.

"The ambition is clear: developing additional 1GW renewable energy capacities as part of the accelerated green energy transition. This initiative will not only reduce greenhouse gas emissions, but open new opportunities for local communities and position Macedonia as a leader in the region," Bozhinoska noted.

She also presented the key JETIP achievements, such as strengthening energy network through technical assistance and investments, supported by EBRD and Contract for Difference (CfD) mechanisms, which will stimulate participation on the private renewable energy sector, and stressed the importance of coordination and support from international partners for the realization of these ambitions.

"Just transition requires significant financial investments. Macedonia is in need of significant financial support to meet these requirements without jeopardizing economic stability. Thus, commitment from the international community is crucial. We call on our partners to continue their financial support, grants, and licensed financial funds, necessary for ensuring just and sustainable transition. Making this transition just and inclusive is a key challenge, especially for the communities that traditionally depend on coal mining and thermal power plants. Macedonia's approach is aimed at providing support to affected workers and communities, providing new and sustainable opportunities, and maintaining social stability," Bozhinovska said. ssh/ik/

Photo: Ministry of Energy, Mining and Mineral Resources