Azerbaijan establishes state company for alternative and renewable energy sources

Azerbaijan establishes state company for alternative and renewable energy sources

Azerbaijan, Baku, June 1 / Trend /

Azerbaijani President Ilham Aliyev signed a decree on Friday creating the state company for alternative and renewable energy sources.

According to the decree, the State Agency for Alternative and Renewable Energy Sources of Azerbaijan is liquidated and a state company for alternative and renewable energy sources is created on its base. It is defined that the State Company for alternative and renewable energy sources is a state-owned company providing state services in the field of use of alternative and renewable energy sources, as well as determining the sources of renewable energy resources and carrying out other work associated with the development of this sphere.

Property of the State Agency for Alternative and Renewable Energy sources of Azerbaijan liquidated by this decree is transferred to the State Company for alternative and renewable energy sources.

Re-organization and (or) liquidation is carried out by the President of Azerbaijan.

The Cabinet of Ministers is instructed within two months to endorse with the President of Azerbaijan and to determine the company's charter; to submit within two months to the President of Azerbaijan proposals on executive power bodies, exercising the powers of the general meeting of the company; to submit within two months to the President of Azerbaijan proposals related to the conformity of acts of the President of Azerbaijan to this decree; to solve other issues arising from this Decree.

Ministry of Taxes and the State Committee on Property are instructed to carry out the necessary arrangements for the company's state registration.

According to the presidential decree, Badal Badalov was appointed chairman of the State Company for alternative and renewable energy sources.

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