Weekly economic review (Oct. 21-25)
Breakthrough made in alternative power engineering in Azerbaijan
Azerbaijan has recently made a major breakthrough in the field of alternative and renewable energy sources.
The first hybrid power station, located in Gobustan region of Azerbaijan, generated the first million kilowatt/hours of electricity and delivered it to the power distribution system of the country.
Azerbaijani President Ilham Aliyev said in his inaugural speech that the diversification policy is being conducted and will be conducted in the economic sphere of Azerbaijan.
Alternative and renewable energy sources play an important role in this process. Their development will reduce dependence on traditional energy sources, ensure the sustainability of the country's energy system, strengthen energy security, as well as have positive impact on the development of modern and innovative technologies and create the conditions for improving the level of environmental protection.
The generation of the first million kilowatt/hours of electricity is the result of intensive work carried out in Azerbaijan in the field of alternative energy despite the country's largest oil and gas reserves.
Azerbaijani President Ilham Aliyev signed a decree on additional measures in the field of alternative and renewable energy sources on February 1, 2013. According to the decree, the State Agency for Alternative and Renewable Energy was established. The structure, location and staff of the State Agency were also approved by this document.
According to the decree, the State Company for Alternative and Renewable Energy Sources was reorganized in Azalternativenerji company and handed over to the State Agency's authority.
The company will complete the creation of a centralized distribution smart network for electricity supply by late 2014 - early 2015. This will allow directly organizing the process of electricity distribution in Azerbaijan's Gobustan region.
The head of the State Agency, Akim Badalov said that the achievement of a successful result was also possible thanks to a fruitful cooperation with the leadership of the Azerenergy.
Today, the power produced at the Gobustan power plant is delivered to the general distribution network on the basis of a joint operation with Azerenergy company, which is engaged in the production and distribution of electricity in Azerbaijan.
It is planned to create hybrid power plants in most regions of the country by 2020. In the initial phase, the output of these plants will be 15-20 megawatts, and later it can be brought up to 45-50 megawatts.
Along with the creation of hybrid stations in the country's regions, much attention will be given to the creation of mini-power plants on the roofs of high-rise buildings.
Azerbaijan also has significant reserves of geothermal waters and high potential for use of solar and wind energy.