IDB considers financing of small hydroelectric power stations in Azerbaijan
Azerbaijan, Baku, June 24 / Trend I. Khalilova /
Islamic Development Bank discussed with "Azerenergy" (production and distribution of electricity in Azerbaijan) prospects for continued cooperation, the IDB president, Ahmed Mohammed Ali said at a press-conference in Baku on the basis of the 35-th annual meeting of the IDB Board of Governors.
"We have funded the reconstruction of Mingachevir major hydroelectric power station and construction of Khachmaz substation. Now we conduct successful negotiations to move forward on financing for new projects", the IDB head said.
The Bank is ready to finance all directions in the field of electricity - from power production to its distribution.
In particular, the sides discussed the projects to build hydroelectric power stations on small rivers of Azerbaijan. According to preliminary data, the bank can provide from $50-150 million for these projects.
The Bank intends to benefit from the experience of financing pilot projects for the construction of small hydropower plants in Turkey and Tajikistan.