Azerbaijani Investment Company Cancels Memorandum with Nordwind on Construction of Wind Power Plants
Azerbaijan, Baku, 9 June / corr. Trend I.Khalilova / The Azerbaijani Investment Company (AIC) open joint stock company (OJSC) canceled the memorandum, which was signed with German Nordwind Energieanlagen GmbH on realization of the project on the construction of wind power plants in Azerbaijan, Riad Gasimov, the deputy of executive director of AIC said.
Though trilateral memorandum among AIC, OSC Temirmasin and Norwind was signed in September of the last year, the German company has not presented its proposals yet.
AIC is ready to invest in renewable sources of the energy, but it needs to develop business-plan and there is a need also for necessary partner, who will manage the project.
In the line with the Nordwind project, it is planned to construct 6 wind power plants with capacity of 13,200 Megawatt/h power in the Khizi region. In the initial period it is planned to construct 6 power plants on the average with capacity of 2,200 Megawatt/h. The project is expected to be enlarged and the number of windmills is expected to be increased in the future.
"We plan to realize the project on the generation of alternative energy with the Korean STX Energy, with which a memorandum on intentions was signed," Gasimov said.
STX Energy has already begun the consultations with the Ministry of Industry and Energetic. Gasimov said that the concrete talks with AIC on the development of the project would begin by the end of year, so currently STX is focused on designing of technical and economical basis on the construction of shipbuilding plant.
The project worth $41mln is expected to be carried out in line with the memorandum signed between AIC and STX Energy.
According to the early studies, some 100 alternative energy sources are expected to be constructed in Azerbaijan in five years. Today the share of the alterative energy sources does not exceed 1% in Azerbaijan which accounts for the small hydro power stations.
The construction of one small hydro power station is valued at from $600,000 up to $1mln for 1MVt.
In 1998-1999, the Japanese Tomen conducted study in Azerbaijan and a report was developed as a result of three-month sstudy. The construction of water power plant with capacity of 60MVt in Gobustan was valued at $100mln. Gobustan is the right place for the construction of the water power station as there is a wind at a speed of 8m/h with a height of 10km. The project did not gain government support and was canceled due to the prime high prime cost.
The official exchange rate for 9 June is 0,8169 AZN/USD.
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