Azerbaijani Investment Company Prepared to Restore Negotiations with Nordwind for Building Wind Power Stations

Oil&Gas Materials 22 April 2008 16:58 (UTC +04:00)

Azerbaijan, Baku, 22 April / Trend corr. I.Khalilova / Azerbaijani Investment Company (AIC) hopes to restore its negotiations with the German Nordwind Energieanlagen GmbH to implement project on construction of wind power stations in Azerbaijan, Anar Akhundov, AIC Executive Director, stated on 22 April.

In spite of the fact that a trilateral memorandum was signed by AIC, Temirmasin and Nordwind in Sep 2007, the German company has not submitted its proposals yet.

"We consider this project not perspective one and are prepared to restore the negotiations as soon as we receive proposals," Akhundov stated.

AIC is ready to invest in renewable sources of electric energy. However, first of all a business plan should be developed and there is a need of a partner as well to manage this project.

The construction of six wind power stations with total capacity of 13,200 KWt/h in the Khizi region is envisaged in the project. It is planned to construct six stations in the first stage with the average capacity of 2,200 MWt/h. The number of wind power energy stations is expected to increase in the future.

According to the preliminary investigations, it is planned to construct 100 alternative sources of electric energy within the next five years in the country.

Construction cost of a small-scale hydraulic aggregate $600,00 to $1mln per 1MWt.

During 1998 and 1999, the Japanese company Tomen held an investigation in Azerbaijan and a report was developed on the basis of three months investigation work. Construction cost of wind power station with capacity of 60 MWt in Gobustan is $100mln. This is the best area for construction of wind power station, as Gobustan is located 10km higher the sea level. However, the implementation of the project was postponed due to high cost of the project.

AIC is signing the second memorandum to develop alternative energetic sphere. The first memorandum, worth $41mln, was signed with the Korean company STX Energy.

The official rate on 22 April is 0,8286 AZN/USD.

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