Prospects for Alternative Energy
The State Agency for Alternative and Renewable Energy at the Ministry of Energy of Azerbaijan has prepared a strategic plan for the development of renewable energy, according to which by 2020 the country will build solar power plants with a total capacity of 2,065 thousand MW and wind turbine parks with a total capacity of 1,512.5 MW.
As the deputy head of the agency Jamil Melikov said in an interview with CISSOLAR, the basis for the implementation of projects in the field of renewable energy has been created, including the laws "On Energy", "On Power", "On the use of energy resources" and "On power stations."
"In this case, the national legislation is at the stage of formation. This year it is expected to adopt new legislation. First of all, we plan to adopt a law "On the green tariff", which is expected to be approximately $ 17 per 1 kW / h for solar power plants."
According to him, wind power electricity in Azerbaijan is sold to the grid at the rate of about $ 4.3 per 1 kW / h, and that from bio and hydro power plants - at $ 3.9 per 1 kW / h. In addition, the stations are able to sell electricity to customers under direct contracts - at $ 5.7 per 1 kW / h.
"The development of renewable energy in Azerbaijan will reduce the use of gas in the domestic market and increase its export volumes. Also, due to the distribution of generation capacity across the country and their setting next to the end-users of energy, we will significantly reduce the cost of upgrading networks and electricity losses during transportation," concluded the official. --17D-
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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