Investment plans on alternative energy development announced
Baku, Azerbaijan, Feb.26
By Emil Ismayilov Trend:
The total cost of major projects implemented in Azerbaijan with government participation in the field of alternative and renewable energy already implemented, make up 657.5 million euro, the official website of the State Agency for Alternative and Renewable Energy of Azerbaijan reported.
The most capital intensive project with state participation is the creation of a farm to generate wind energy in the Caspian Sea with a total capacity of 100 megawatts and costing 250 million euros.
The share of public participation in this project will be from 10 to 25 percent and the remaining part will be financed at the expense of attracting funds from private investors.
Another major project planned for implementation in Azerbaijan in the sphere of alternative energy is the creation of the Perekishkyul farm on wind power generation with a total capacity of 110 megawatts. It is planned to involve credit from the German Development Bank (KfW) for the implementation of the project at a cost of 165 million euros and the public share will be within a 10 to 25 percent stake.
Some 87.5 million euros is required for the creation of the Absheron park on solar energy generation with a capacity of 25 MWts, a 75 million euro aeration and gas station which will work on the basis of biological treatment of domestic sewage with a capacity of 50 MWts. The project '1000 houses, 1000 electric power stations' with the capacity of 50 megawatts is estimated at 80 million euros.
Alternative sources have been significantly developed in the country recently. In particular, a draft government strategy on the development of alternative and renewable energy sources by 2020 is prepared in the framework of the alternative energy development in the country.
Azerbaijan has great potential for the development of alternative energy. In particular, the potential of wind energy in the country makes up 4500 megawatts, biomass - 1500 megawatts, and geothermal energy - 800 MW, as well as small hydro power plants - 350 MW.
The share of solar energy in the total volume of alternative energy is expected to reach 40 percent and wind energy 28 percent in Azerbaijan by 2020.
The share of alternative energy sources in total consumption is expected to reach 20 percent in Azerbaijan by 2020.
Translated by S.I.
Edited by S.M.