Alternative energy sector in Azerbaijan to receive benefits - agency

Thu 19 July 2018 18:09 GMT | 22:09 Local Time

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Companies participating in the development of alternative energy in Azerbaijan will receive tax and customs benefits, Jamil Malikov, deputy chairman of Azerbaijan’s State Agency on Alternative and Renewable Energy Sources, said at the Azerbaijani-Italian business forum in Baku July 18.

He said that the production volume of alternative and renewable energy in the total production volume in the energy sector is 9.5 percent. The production of renewable energy in Azerbaijan is carried out mainly through hydropower, he noted.

“A lot of attention is paid to the sphere of alternative and renewable energy in Azerbaijan, and in this regard, various programs are being implemented in the country,” Malikov noted. “If investments in this sphere are increased and state programs are implemented, this figure will reach 15 percent in a few years.”

Malikov added that Azerbaijan’s potential in the field of wind energy is 350 megawatts, 50 megawatts account for solar energy, and in the next few years it will be possible to reach the level of 20 megawatts in terms of bioenergy volumes.

The development of the alternative and renewable energy sphere will in turn ensure sustainable development of the economy and increase the number of jobs, he said.

News.Az

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