Azerbaijan, Baku /corr. Trend U.Ismaylova / Private wind electric power stations in Azerbaijan will produce nearly 700mln KWt/h electricity per year, said Azerbaijan's Minister of Industry and Energy, Natig Aliyev, during the 3rd meeting of the Azerbaijani-South Korean joint energy committee in Baku on 28 August.
In April the Ministry of Economic Development of Azerbaijan signed a memorandum of understanding with Korean companies KEPKO and STX regarding the construction of independent power plants in Azerbaijan.
According to the minister, ten energy blocks will be constructed, with a capacity of 2 mVt for each one. The investment totals $40mln. The wind electric power stations in Azerbaijan will be constructed from 100% private foreign investment.
The minister said that the site of the station had already been determined. Wind electric power stations will be located in Gobustan due to favorable climate conditions, he added.