DEPUTY MINISTER OF INDUSTRY AND ENERGY MEETS EBRD DELEGATION
Azerbaijan’s Deputy Minister of Industry and Energy Gulmammad Javadov met with delegation of European Bank for Reconstruction and Development (EBRD).
They discussed development of non-oil sector in Azerbaijan, as well as prospects for joint cooperation in different fields of power industry, especially alternative energy production.
Head of the delegation, Deputy Director of the Bank’s Natural Resources Olvin Baldu said the EBRD is ready to assist Azerbaijan in implementing alternative energy programs.
The Deputy Minister said his country is cooperating with some of the world`s prestigious financial organizations in the field of alternative energy.
He stated that under an agreement with South Korean STX company, a $40 million-worth wind power plant will be constructed in Gobustan, about 40 miles southwest of Baku.
“Our country is successfully cooperating with Germany and Norway on construction of solar and hydro power plants. Besides, for the first time, a project to use biomass energy will be realized in Khinalig village of Guba, a city in northeastern Azerbaijan. In future, the government will implement such projects in other regions of the country as well,” Javadov said.
The EBRD is carrying out 80 projects in various fields in Azerbaijan.
Until now, $720 million has been invested in these projects.
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