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International financial institutions will support production of alternative and renewable energy in Azerbaijan

International financial institutions will support production of alternative and renewable energy in Azerbaijan
China will grant to Azerbaijan autonomous energy systems worth $ 3 mln
© Report

Baku. 19 October. REPORT.AZ/ “China will grant to Azerbaijan the autonomous energy systems consisting of solar and diesel generators worth $ 3 million.”

Report informs, deputy director of the State Agency for Alternative and Renewable Energy Sources of Azerbaijan (SAARES) Jamil Melikov told reporters.

He said currently China possesses the documents which have been signed by Azerbaijan.

“The capacity of these aggregates varies between 5kW to 100 kW” he said.

The agency official added that the strategical road map envisages investment of 1,04 billion manat in alternative and renewable energy sector of Azerbaijan. He said several international financial institutions are interested to allocate funds for this field in Azerbaijan.

“"KfW" bank of Germany, Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD) are keen on this issue. ADB has already completed the work on technical economic feasibility documents. The bank will allocate 46 million dollars for projects to be implemented in three regions. It accounts for 90% of projects budget. The funds will be used for construction of plants in Aghjabedi, Oguz and Samukh. The rest of the 10% will be provided by Azerbaijani government.”

J. Melikov said KfW will allocate 130 mln EUR to Azerbaijan: “The banks has completed technical economic feasibility study on wind and solar plants and German government will allocate to Azerbaijan 130 million Euro for this purpose. But there are special conditions on spending of these means. If Azerbaijani government shows willingness to use this money and accepts the conditions, the funds will be given to Azerbaijan,” he said. 

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