Last year's investments in the development of alternative energy amounted to 63.6 million manat. Of these, 34.9 million was the proportion of solar energy and 28.7 million – of wind energy. Overall, since 2000, the local industry has been invested about 800 million AZN, Deputy Head of the State Agency for Alternative and Renewable Energy Sources Jamil Melikov told reporters at the Fourth International Conference and Exhibition CISOLAR-2015 held in Baku.
According to him, the potential of renewable energy sources in Azerbaijan is the highest in the region. Solar energy potential exceeds 5,000 megawatts, wind power - 4,500 megawatts, biological energy - 1,500 megawatts, and geothermal energy - 1800 megawatts. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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