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â‚¬14 bln required for development of Azerbaijanâ€™s alernative and renewable energy sources during next five years

28 October 2014 09:30 (UTC +04:00)

Baku. Agshin Rafigoglu - APA-Economics. €14 bln will be required for development of Azerbaijan’s alernative and renewable energy sources during next five years, said the Deputy Head of Investments and Strategic Development Department at the State Agency on Alternative and Renewable Energy Sources Samir Rahimov at the second day of the 13th conference on investments and energy regulation of the Energy Regulators Regional Association (ERRA).

According to him, it’s needed AZN 1.043 bln to develop this sphere in 2015: “These funds will allow getting 299.6 MVatt alternative energy. Of this, 130.4 MVatt will come from solar energy”.

Rahimov said a feasibility study for construction of hybrid heating and power stations in Azerbaijan’s five regions has been prepared: “In the next years, Azerbaijan will also construct hybrid heating and power stations in Gadabay, Oghuz, Balakan, Neftchala and Nakhchivan Autonomous Republic”.