Domestic

Domestic

The President of the Republic of Azerbaijan sings a decree on establishing the State Company on Alternative and Renewable Energy Sources

01 June 2012 18:02 (UTC +04:00)

The new State Company will be founded on the base of the State Agency on Alternative and Renewable Energy Sources under the Ministry of Industry and Energy, APA reports.

The decree reads that The State Company on Alternative and Renewable Energy Sources of the Republic of Azerbaijan is a state company, belonging to the state, functioning on field of alternative energy and renewable energy sources as well as discovering renewable energy sources and developing and doing other works in this field.

According to the paragraph 3 of the decree, the property of the State Agency on Alternative and Renewable Energy Sources is given to the State Company on Alternative and Renewable Energy Sources

The Decree notes that the Cabinet of the Ministers is instructed to define regulations of the company, agreeing it with the President of the Republic of Azerbaijan, to submit proposal on executive power bodies acting as general assembly of the company within 2 months to the President of the Republic of Azerbaijan, to submit proposals to the President of the Republic of Azerbaijan on combining the acts of the President of the Republic of Azerbaijan to this decree.

The Ministry of the taxes and the State Committee on Property Issues of the Republic of Azerbaijan are instructed to take necessary measures for the registration of the company.

The President of Azerbaijan singed other decree on Akim Badaloghlu Badalovâ€™s appointment as a chairman of the the State Company on Alternative and Renewable Energy Sources of the Republic of Azerbaijan