ABD TO FINANCE NEW ENERGY PROJECT IN AZERBAIJAN

05.04.2007 [14:14]
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A preliminary report on “the Project of development of renewable energy in Azerbaijan” of which performer is the Ministry of Industry and Energy was heard in the Hyatt-Regency Nakhchivan Hotel on April 4.

Information on the purpose and prospects of development of the project financed by the Asian Bank of Development (ABD) is presented in the report. It was noted that 700 thousand dollars have been allocated for rendering the initial technical assistance to the Project, consisting of 3 parts, 500 thousand out of this amount will be granted by ABD, and 200 thousand by the government of Finland. Swiss company Entec and Indian DSCL are members of the consultative group of the project. Development of long-term investment programs, creation of the services establishing renewable energy systems in countryside and operating them, and carrying out their maintenance service are provided within the limits of the project.

Officials of ABD permanent mission in Azerbaijan, Ministry of Industry and Energy, as well as some other ministries and large companies attended the event.

ABD TO FINANCE NEW ENERGY PROJECT IN AZERBAIJAN

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