Details added (first version posted on 11:02)
Baku, Azerbaijan, Sept. 20
By Ilkin Shafiyev - Trend:
Azerbaijan must use the experience gained in cooperation with foreign oil and gas companies to develop alternative energy, Azerbaijani Energy Minister Parviz Shahbazov said Sept. 20 during the 7th International Caspian Energy Forum Baku-2018.
A legislative base is being created to use renewable energy sources, Shahbazov said.
Reforms continue to attract private sector and foreign investments to the sphere, as well as create competitive environment there, he added.
He said that there are great prospects for the development of alternative energy sources in the Caspian littoral states.
The potential of renewable energy sources in Azerbaijan is over 25,300 megawatts. Most of the country’s renewable energy potential accounts for solar energy.
The State Agency for Alternative and Renewable Energy Sources of Azerbaijan plans to implement 23 projects worth about 13 million manats as part of the Strategic Roadmap for the Development of Public Utilities (Electric and Thermal Energy, Water and Gas) in 2018-2020.
(1.7 manats = $1 on Sept. 20)
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