CAREC Forecasts Development of Electric Power Market around Azerbaijan

Oil&Gas Materials 21 November 2008 17:59 (UTC +04:00)

Azerbaijan, Baku, 21 November / corr. Trend E. Ismayilov / According to the program of Central Asia Regional Economic Cooperation (CAREC), by 2014 in Azerbaijan the construction projects of new electricity transmission lines will be fulfilled to improve the interconnection of Azerbaijani power systems with the power systems of Russia, Iran and Georgia, the report of the program indicated.

550 KV, 330 KV, 220 KV and 110 KV electricity transmission lines and substations that will increase the energy transmission between the countries will be constructed within the project that costs $231, 7,000,000.

$70,000,000 falls on Azerbaijan, $81,000,000 on funds involved from international financial institutions and $81,000,000 on other sources.

Short-term investment (from 2008 to 2009) makes up $100,000,000 and medium-term investment (from 2010 to 2014) $132,000,000. As a result of the project electric power markets around Azerbaijan will develop and transmission of electric power from Azerbaijan to Turkey via Georgia will be realized.

The correspondent can be contacted at [email protected]