European Commission to support development of alternative energy in Azerbaijan

Oil&Gas Materials 3 March 2018 13:49 (UTC +04:00)

Baku, Azerbaijan, March 3

By Ilkin Shafiyev – Trend:

The European Commission will support the development of alternative energy in Azerbaijan, the country’s media reported March 3.

For those purposes, in particular, a part of a grant will be allocated for energy reform support program. The corresponding change in the grant agreement was approved by the Azerbaijani Cabinet of Ministers.

Initially, the funds were planned to be allocated to the Azerbaijani Ministry of Finance for a project to support the improvement of public financial management.

According to the change, one million euros will be allocated to the Azerbaijani Ministry of Energy. The project includes the measures to rationally manage energy resources, improve the corresponding infrastructure and increase the share of alternative and renewable energy sources in the country's overall energy system.

The total amount of the grant of the European Commission is 13 million euros. It was allocated to Azerbaijan in 2009.