Jan 23, 2013

Baku, Fineko / abc.az. The Ministry of Industry and Energy of Azerbaijan considers it necessary to order to increase investment in the sector of alternative energy.

As stated at the Covenant of Mayors East: National Day Event in Baku head of the investment department of the Ministry of Industry and Energy, the National Coordinator of the program INOGATE Ramiz Rezaev, 2020 in the country in 2000 to create the generating capacity in the sector of renewable energy and the use of renewable energy sources, bringing its stake to 20% of the total energy production.


"According to our estimates, this will require 7 bn investment by 2020. By comparison, only $ 100 million invested in the sector over the past four years, "- said R.Rezaev.


The Ministry of Industry and Energy already has a vision of alternative energy in the country.

"At present, the Government prepared and reviewed draft laws on alternative energy and on energy efficiency, and 40 regulations. The ministry also is developing a medium-term strategy for the industry, designed for 2012-2015. For the implementation of the tasks to increase the share of renewable energy will create the conditions to attract investors to develop the legal framework, to enact legislation of the second level, to develop a financial incentive mechanisms, improve tariff regulation and so on, "- said R.Rezaev.