Investments volume in alternative energy sources creation in Azerbaijan till 2020 revealed
Baku, Azerbaijan, Oct.28
By Emil Ismayilov - Trend:
Implementation of projects on developing alternative and renewable energy sources in Azerbaijan until 2020 may require up to 14 billion AZN.
The deputy head of the department of investments and strategic development of the state agency for alternative and renewable energy sources Samir Rahimov made the remarks Oct.28 in Baku during the XIII Conference on investments and regulation of the Energy Regulators Regional Association (ERRA).
He said that the costs on implementing projects in the field of alternative energy in 2015 will amount to 1.04 billion AZN.
"These funds will be spent on implementation of various projects with total capacity of 299.6 megawatts," Rahimov said. "In particular, it is planned to create hybrid electric and thermal plants in Nakhchivan, Oguz, Balakan, Gedebey and Neftchala."
He said that preparation of a feasibility study for the construction of these hybrid plants is currently being carried out.
Currently, the installed capacity of the power system of Azerbaijan stands at 7,100 MW and consists of 14 thermal and 10 hydroelectric power plants.
The main source of electricity generation, or 92 percent, accounts for gas, 7.9 percent for water resources and only 0.1 percent for alternative energy sources.
Azerbaijan plans to build up to 100 alternative energy facilities during the five years, according to preliminary studies.
The official exchange rate for October 28 is 0.7843 AZN / USD.