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State Company for Alternative and Renewable Energy’s charter to be approved in Azerbaijan

Oil&Gas Materials 30 August 2012 17:49

Azerbaijan, Baku, Aug. 30 / Trend E. Ismayilov /

The charter of the State Company for Alternative and Renewable Energy is being approved by the Azerbaijani Cabinet of Ministers, the state company told Trend today.

Earlier, the orientation in the project implementation fell to private companies. A state company will deal with the implementation of large state projects in alternative energy.

"At present, the charter is in the Cabinet of Ministers, in particular, it is being considered by the relevant ministries," the source said.

The source said that the company's charter will be approved soon.

Azerbaijani President Ilham Aliyev signed a decree creating the state company for alternative and renewable energy sources on June 1.

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 area.

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