BAKU, Azerbaijan, Oct.21
By Leman Zeynalova – Trend:
Works are underway with Azerbaijan’s ministry of economy, Azerenerji open joint-stock company and relevant organizations to start the construction of the power plants under the contracts with ACWA Power and Masdar companies, the country’s energy minister Parviz Shahbazov said in an article, published in the Respublika newspaper, Trend reports.
“We aim to increase the share of renewables in energy production from the current 17.3 percent to 24 percent in 2025 and 30 percent in 2030. To this end we have already started the implementation of a joint project with ACWA Power and Masdar companies to create 470 megawatts of 1,500 megawatts planned for the upcoming decade,” said the minister.
He noted that the topographic, engineering and geological works, as well as the research on environmental and social assessment for both of the projects have been completed.
“The projects with total investment cost of $500 million will allow to produce 1.5 billion kilowatt-hours of electricity, save more than 330 million cubic meters of gas, prevent the emission of over 600,000 tons of carbon dioxide and create new jobs,” Shahbazov explained.
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