A wind farm with a capacity of 50 megawatts in the village of Yeni Yashma of the Khyzy area is ready for use and until the end of September it will be connected to the network Azerenergy.
The head of the State Agency for Alternative and Renewable Energy of Azerbaijan Akim Badalov told the media it is not the only power plant, commissioning of which is expected this year. His organization continues to work on the creation of new generating capacity in the field of alternative energy in Sumgait, Pirallahi, Garadagh, and Samukh. In the same Yeni Yashma there is another object whose construction is completed and the inspection work is already underway.
According to him, the projects finalized the construction of new solar power plants in seven regions of the country. By early next year it is scheduled to lay the foundation of these objects. In addition, in Sheki and Siyazan at the beginning of 2015 it is planned to lay the foundations of power plants using biomass. In Sheki there has been also completed the construction of a small hydropower plant, and its commissioning is underway.
Speaking about the plans for the next year, the head of the renewable energy agency announced his intention to launch a project to build power plants with total capacity of 300 MW capacity by using wind and solar energy, small rivers, and geothermal water and biological resources. According to him, to date, the amount of public investments aimed at the development of this sector, from July 16, 2009 exceeded 100 million manat. --17D-
Economics
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On September 20, 2024, Volts Energy Ltd., an engineering company based in Abu Dhabi, and Azerbaijan’s Turan Energy LLC announced the creation of a new joint entity, TuranVoltsEnergy. This venture will focus on EPC (Engineering, Procurement, and Construction) projects in renewable energy and energy storage systems within Azerbaijan.
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The number of passengers traveling by air from Azerbaijan has seen a significant increase in 2024, rising by 26.7% from January to September compared to the same period last year. According to the State Agency for Tourism, a total of 2,548,897 people used air transport services to travel to 40 countries during this period.
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Azerbaijan’s prolonged border closures, approaching five years, have taken a profound toll on the labor market, particularly in border regions, where cross-border trade and services were once critical economic drivers. Official data highlights the stark disparity between the growing labor force and the lack of new job creation in these areas, underscoring the social and economic challenges faced by residents.
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Azerbaijan’s food imports have surged to unprecedented levels, with a significant rise recorded in the first nine months of 2024, according to data from the State Customs Committee. Food imports for January-September reached USD 1.755 billion, marking an 11.4% increase over the same period last year. This represents a USD 179.7 million increase compared to 2023, setting a record for food imports in the country’s history. Over the past decade, food imports have more than doubled, rising by 2.4 times, with a notable 52.5% growth in the last five years alone.
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