In 2015 share of alternative power constituted 0.06% in total power generation of the country
In 2015 total volume of power generation in Azerbaijan reached 22,900,500,000 KWh, own 0.7% against 2014.
According to the Azerbaijan State Statistical Committee, during last year generation of commercial power in the country totaled 21,811,300,000 (decline by 0.6%).
The difference between total and commercial power generation indexes is caused by the fact that Azerenerji, state monopoly generating power in the country, uses part of generated power to satisfy its own needs.
In 2015 Azerenerji’s thermal power stations generated 20,260,100,000 kWh of commercial power (decline by 1.5%), while hydraulic power stations – 1,541,500,000 kWh (growth by 25.3%).
In 2015 Azerenerji’s thermal power stations consumed 315,600 tons of black oil and 4.7 billion cub.m. of natural gas.
In 2015 Azerbaijan generated 5.7 million kWh of commercial wind power (decline by 27.8%) and 4 million kWh of solar power (not generated in 2014).—0-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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