Azerbaijan, Baku, 19 March /corr. Trend I.Khalilova / In the next three years, the Government of Azerbaijan intends to increase the capacity of the hydroelectric power plants nearly by 20 times, said the President of Azerenergy, Etibar Pirverdiyev.
"We are going to support the development of small hydroelectric power plants and at least, to increase the capacity up to 600-550 MWt from the current 20-30 MWt," Pirverdiyev said.
The German Development Bank KfW expressed its preparedness to finance the construction of 20 hydroelectric power plants in the regions of Azerbaijan. President of Azerenergy said that this suggestion of the bank is under consideration at present. In addition, feasibility study prepared by Azerenergy was submitted to the bank.
The KfW project envisages constructing hydroelectric power plants with a capacity of 1.5-2 MWt in Azerbaijan's districts of Zakatala and Beylagan. The cost of one plant is estimated at nearly $1mln.
It will be first project of KfW in the sphere of renewable energy sources, although formerly the bank highlighted its wish to finance alternative energy production but later refused it due to the lack of relevant legislation in connection to network of Azerenergy.
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