BAKU, Azerbaijan, Feb. 19
By Nargiz Ismayilova – Trend:
This year there is a rather high possibility for Azerbaijan to hold the auctions on the development of projects in the field of renewable energy sources as the country has great potential for the implementation of such projects, Azerbaijani Deputy Energy Minister Elnur Soltanov told reporters, Trend reports.
"Our law in the field of renewable energy is already at the stage of revision,” the deputy minister added. “At the same time, the preparation is underway for an auction. The likelihood of implementing the projects in the field of renewable energy sources in five selected areas in Azerbaijan in 2020 is quite high."
“A total of eight promising areas for the development of renewable energy sources were selected,” Soltanov said. “The wind and solar power stations will be built at three of those promising areas by ACWA Power and Masdar companies. In other areas, an auction for the construction of new power plants may take place in 2020.”
"Presently, the potential of generating capacity of renewable energy sources is estimated at 26,940 megawatts in Azerbaijan,” the deputy minister said. “The potential of wind power of that volume is estimated at 3,000 megawatts, solar power – 23,040 megawatts, bioenergy - 380 megawatts and mountain rivers - 520 megawatts."
The signing ceremony of executive contracts among the Azerbaijani Ministry of Energy and ACWA Power and Masdar companies for the implementation of pilot renewable energy projects was held in Baku on January 9.
The agreements were signed by Azerbaijan’s Energy Minister Parviz Shahbazov, Chairman of the Board of ACWA Power Mohammad Abunayyan and Chief Executive Officer of Masdar Mohamed Jameel Al Ramahi.
Presently, there are five areas for the development of projects in this sphere. At the same time, potentially five companies are interested in participating in the projects and investing in the field of renewable energy in Azerbaijan.