BAKU, Azerbaijan, Sept.20
By Leman Zeynalova – Trend:
Azerbaijan plans auctions in the renewable energy sphere in the near future and would like to see Russian companies there, said Azerbaijan’s Energy Minister Parviz Shahbazov, Trend reports.
The minister noted that currently the development of alternative energy sphere is in the spotlight globally and Azerbaijan and Russia are also focused on this field.
“I believe that we could successfully cooperate in this sphere as well. I don’t see any obstacles to collaboration between our countries in any sphere of energy and hope that our relations will strengthen further,” he said in an interview with Neftegazovaya Vertikal magazine.
After adopting the rules for selecting electricity producers from renewables, the first alternative energy auctions may be held in Azerbaijan at the end of 2021 or early 2022.
The auction mechanism, which is widely use in the world and is based on competition, facilitates flow of private investments in the development of renewable energy sphere and ensures lower prices. Auctions help to select the company offering the best or affordable price taking into account various technical and commercial parameters. The best price is often the lowest price for the sale of electricity to be produced.
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