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Azerbaijan intends to develop alternative energy sources

2012-07-31 13:58

July 31, Azerbaijani State Company for Alternative and Renewable Energy held a presentation of medium-term plan of action. By November 2012, regions of the country, most favorable for development of alternative energy sources will be determined, the Trend reported.

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According to the head of the State Company for Alternative and Renewable Energy Akim Badalov, the company was established on the basis of the State Agency for Alternative Energy Sources under the presidential decree. "In 2010-2012, the agency made significant steps on the adoption of laws on alternative energy sources, study international practices, analysis of the country's capabilities in the development of alternative energy sources, etc", Badalov said.

He also noted that one of the main objectives of state-owned companies is to cooperate with the private sector in the use of alternative energy sources, the 1News.az reported. "However, we need the support of the state. Calculations show that it is unprofitable for the private sector to invest in this area, since investments pay off not soon, as it happens in other sectors of the economy", Badalov added.

The decision to create special state company was taken due to the fact that this sector is knowledge-intensive and requires the use of modern technology, that's why the government support is needed.

The main objective in this area is to achieve the level of renewable energy in total energy consumption in Azerbaijan to 20 % by 2020, the Day.az reported.

 

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