Azerbaijan expects peak investment in alternative energy in 2015
Azerbaijan, Baku, July 31 /Trend E.Ismayilov/
Peak volume of investments in the development of alternative and renewable energy sources in Azerbaijan is expected at more than 800 million manat in 2015, the State company on alternative and renewable energy sources told Trend.
More than 700 million manat is planned to provide from borrowed funds, the rest will come from reinvestment from the funds returned from the ongoing projects.
It is planned to invest 100 million manat in of alternative and renewable energy sources in 2012, about 470 million manat - in 2013, 690 million manat - in 2014, 450 million manat - in 2016, 500 million manat - in 2017, 530 million manat - in 2018, 620 million manat - in 2019.
It is projected that investment in this sector will exceed 650 million manat in 2020, which will be provided, mainly due to reinvestment. . In particular, about 600 million manat will account for the reinvestment in 2020, and the rest - for borrowed funds.
The purpose of the energy policy of Azerbaijan in 2020 is to bring the share of alternative energy sources in the electricity sector to 20 percent, while in 2011 it amounted to ten percent (9.8 percent - hydropower, 0.2 percent - other types of alternative energy sources).
According to plans, the share of alternative energy sources in total energy consumption will reach 9.7 percent by 2020.