Azerbaijan exempts import of alternative energy equipment from custom duties
Baku, Azerbaijan, May 1
By Emil Ismayilov - Trend:
The persons who have received special permission to work in the field of alternative and renewable energy sources are exempted from the payment of customs duties and value added tax according to the decision of the Azerbaijan`s Cabinet of Ministers.
In particular, the decision covers the importers of installations which are used in the field of alternative energy, as well as equipment and supply which are necessary for their production.
The decision of the Cabinet of Ministers of Azerbaijan enters into force within 30 days from the date of publication, and its duration is 10 years.
Alternative energy sources have been widely developing in Azerbaijan in recent years. In particular, "National strategy for the development of alternative and renewable energy sources until 2020" has been prepared within the framework of the development of alternative energy in the country.
Azerbaijan has great potential for the development of alternative energy. In particular, the potential of wind energy in the country is 4,500 MW, biomass - 1,500 MW, geothermal energy energy - 800 MW, small hydro power plants - 350 MW.
The share of alternative energy sources in total volume of consumption in Azerbaijan is planned to reach 20 percent by 2020.
Translated by S.I.
Edited by S.I.