Investment volume in Azerbaijan’s alternative energy revealed
Baku, Azerbaijan, Oct. 18
By Maksim Tsurkov – Trend:
Azerbaijan has invested 987.4 million manats in the development of alternative energy in 2005-2015, Deputy Head of the country’s State Agency for Alternative and Renewable Energy Sources Jamil Melikov said.
He made the remarks Oct. 18 during the 7th International Forum on Energy for Sustainable Development in Baku.
He said that 83 percent of this volume accounted for public investments, and Azerbaijan’s private sector provided another 17 percent.
“As many as 12 percent of public investments were provided by the state agency,” Melikov said. “Overall, Azerbaijan will be able to save 1.1 billion cubic meters of gas by 2020 thanks to the projects implemented by us, which will ensure the growth of the country's export capacity and 7.9 percent of GDP.”
Currently, the capacity of Azerbaijan's energy system is 7,200 megawatts.
The total potential of Azerbaijan's alternative and renewable energy sources exceeds 12,000 megawatts.
The major part of the country's capacity in this field accounts for the solar energy and this potential is estimated at 5,000 megawatts.
About 4,500 megawatts account for wind energy, 1,500 megawatts - for biomass, 800 megawatts - for geothermal energy, while the remaining 350 megawatts - for the potential of small hydro power plants (HPP).
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