AzAlternativEnerji LLC is being liquidated, and its property will be privatized

Baku/07.08.23/Turan: President Ilham Aliyev has issued a decree on August 5, ordering the liquidation of AzAlternativEnerji, a company under the State Agency for Renewable Energy Sources, which operates within the Ministry of Energy. The decree aims to involve the private sector in the utilization of renewable energy sources.

Upon completion of the liquidation process of AzAlternativEnerji and the settlement of outstanding debts with creditors in accordance with civil legislation, any remaining assets will be made available for privatization. The Ministry of Economy will determine the privatization methods, considering their specific characteristics, in line with the "Second State Program of Privatization of State Property," as approved by the Head of State in a decree dated August 10, 2000. Both local and foreign investors will be allowed to participate in the privatization.

AzAlternativEnerji was established in 2015 with an authorized capital of 51.483 million manats. The company oversees the operations of various renewable energy facilities, including the Gobustan hybrid power plant, Surakhani, Pirallahi, Sahil, and Samuh solar power plants, as well as solar energy systems installed at several social facilities.

The State Agency for Renewable Energy Sources, which was established through a decree signed by President Aliyev on September 22, 2022, is responsible for implementing state policies related to renewable energy sources (RES). This includes forecasting, attracting investments, and undertaking activities to promote the development of the renewable energy sector.

At present, Azerbaijan's energy system has a total capacity of 7,144 thousand MW, with renewable energy accounting for 17% of this capacity. In terms of actual electricity production, renewable energy sources contribute to 8.2%, considering the capacity of large hydroelectric power plants. The government aims to increase the share of renewable energy in electricity production to 30% by the year 2030.

AzAlternativEnerji has faced financial challenges over the years, accumulating losses amounting to 14 million manats in 2018. However, detailed financial information about the company's subsequent years is not publicly available.

In 2022, AzAlternativEnerji generated 10.331 million kWh of green energy

This is how it looks in alternative energy plants:

Gobustan Hybrid Power Plant: 5.5963 million. kWh

SURAKHANI GES: 1.3388 million. kWh

Piralahi GES: 0.3783 million. kWh

Coastal GES:1.6765 million. kWh

Samukh GES: 0.5967 million. kWh

Shaki KSES: 0.2033 million. kWh

Solar installation installed in the Sports Hall of Boradigah village of masalli region: 0.0734 million. kWh

Solar installation installed in Khojavand Sports Hall of Beylagan region: 0.0452 million. kWh

Solar installation installed at Sabirabad regional Asan service center: 0.008 million. kWh

Boradigah Village Sports Complex LLC: 0.0167 mln. kWh

6 schools and 6 kindergartens built for IDPs in bilasuvar region: 0.3305 million. kWh

Solar panels and heat pumps installed in social facilities in Baku City: 0.0674 million. kWh.—0—