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Five Small-Scale Hydroelectric Power Stations Privatized in Azerbaijan

Business Materials 30 March 2008 13:06 (UTC +04:00)

Azerbaijan, Baku, 30 March / Trend corr. I.Khalilova / The State Committee on State Property Management of Azerbaijan has completed privatization of five small-scale hydroelectric power stations out of nine, the Committee reported. Today, privatized Shaki, Mugan, Kuba, Nugadi and Gusar hydroelectric power stations, and other stations Chichakli, Zeykhur, Balakan and Chinarli were exhibited.

The new owners acquired electric stations and are to restore their operating capacity without change of profile line. Although, according to the examination by the Azerbaijani company ASPI, electric stations exhausted their function and there will be difficult to restore their capacity. There are problems with lay of channels and tubes for full potential operating of hydroelectric power stations. The State Committee was proposed to sale these stations to municipalities and to use them for touristy purposes.

There are also problems with investors in transferring of stations to State property. An investment contest was announced in 2007 to sale 94.33% of shares of hydroelectric power station Chichakli located in Khanlar region. Assessment of proposals was planned on 17 August. However, no interest was demonstrated to this station. The priority may be given to investor, who will propose a maximum investment and which has modern production and sale experience.

As for 1 July 2007, the authorized capital of Chichakli station totals AZN 55,368. The station was put into commission in 1928. Water is flowing to the station from Ganjacay River. The project production capacity of the station is 2760 KWt per year. Station's stuff comprise of nine workers. The liabilities of the stations for 1 July made up AZN 4,276. The enterprise has no accounts receivable.

The correspondent can be contacted at: [email protected]

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