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Azerbaijan invests over $500 million in alternative and renewable energy development

Oil&Gas Materials 20 November 2013 15:29 (UTC +04:00)
Over $500 million was invested in the development of alternative and renewable energy sources in Azerbaijan from 2010 to 2013.

Baku, Azerbaijan, Nov. 20
By Emil Ismayilov - Trend:

Over $500 million was invested in the development of alternative and renewable energy sources in Azerbaijan from 2010 to 2013, Chief Power Engineer of Azalternativenerji Ltd. Tahir Jafarov said on Nov.20 at the second session of the Expert Group on Alternative Energy of Economic Cooperation Organisation (ECO).

A draft national strategy for the development of alternative and renewable energy sources till 2020 which is currently being agreed on, was worked out within the development of alternative energy in the country, he said.

According to Jafarov, the strategy envisages identification of the main directions of thermal energy production from renewable energy sources (RES), the creation of the legal framework in this sphere, arrangement of events on the use of renewable energy sources, as well as the use of renewable energy sources in economic spheres.

In addition, Jafarov stressed that within the alternative energy development, the country has large scale plans for creation of generating facilities all over the republic. It is planned to create hybrid power plants in almost in every region of the country.

Representative of the State Agency for Alternative and Renewable Energy Sources Jamil Melikov said that such events will allow the country to solve issues emerging in the process of energy production, to ensure energy efficiency by reducing losses in the production and transportation of electricity and socio-economic development of the regions.

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