Baku, Azerbaijan, Nov. 2
By Azad Hasanli – Trend:
The Asian Development Bank (ADB) considers it possible to finance renewable energy projects in Azerbaijan in case of their sustainability, Nariman Mannapbekov, director of ADB’s permanent representative office in Azerbaijan, told Trend.
The bank’s opinion is that measures are required to develop competition in this sphere, he noted.
“Regulatory environment in the sphere of alternative energy is still developing in Azerbaijan,” Mannapbekov said. “The legislation needs improvement regarding the tariffs for electricity produced.”
Electricity generated by solar or wind power stations is more expensive than the electricity generated by gas turbine units, he noted.
At present, renewable energy sources cannot compete with other sources of energy, he added.