The implementation of a series of large projects in the liberated territories precisely at the expense of foreign investments is the main priority, Azerbaijan’s Energy Minister Parviz Shahbazov told "Model of Azerbaijan's Development: Yesterday, Today, Tomorrow" conference, Report informs.
The minister underlined that the developed "green energy zone concept" creates a clear picture of large-scale activities, providing the region with clean energy for everyone, including investors.
"The first example of green foreign investment in these areas is our collaboration with BP on a 240 MW solar power plant. Another foreign investment project is envisaged in Kalbajar and Lachin. In order to explore interest in the 100 MW wind farm project, investors have been provided with survey document."
Parviz Shahbazov stressed that work is underway to use the hydropower potential of the liberated territories: "The completion of the construction of the Khudafarin and Giz Galasi hydropower plants in the next 2-3 years will also contribute to the transformation of the region into a zone of green energy."
The total capacity of the two hydro-power stations on the Araz River on the border with Iran is 280 MW. Thus, the capacity of the Khudafarin hydroelectric power station is 200 MW with the capacity of the Giz Galasi hydroelectric power station totaling 80 MW. It is expected that both power plants will produce 716 million kW/h of electricity, of which, according to the 50/50 principle, 358 million kW/h will go to Azerbaijan, and the same amount to Iran.