Baku, Fineko/abc.az. Azerbaijan President Ilham Aliyev has issued a decree on appointment of the director of the State Agency for Alternate & Renewable Energy Sources under the Ministry of Industry & Energy (MIE).

Under the decree, Akim Badalov was appointed the Agency’s director.

The Agency was established in compliance with the relevant presidential decree from 16 July 2009.

The Regulation on the Agency has been drafted and submitted for consideration of the country’s President.

The Ministry also comes forward for establishment of the Coordinating Council for realization of the State Program of Renewable Energy Sources that will allow obtaining the result in this important direction for short terms.

The Agency will have 25 established posts.

The Regulation on the MIE was also specified in connection with Agency’s creation.

Currently Azerbaijan is a net exporter of oil, petroleum products, natural gas, and electricity. At the same time the State Fuel & Energy Complex Programme stipulates development of sector of alternate and renewable energy. Its current consumption does not exceed 10% of overall power generation.

A couple of years ago Asian Development Bank prepared the Concept of Alternate & Renewable Energy for Azerbaijan and was ready to finance up to $30 million credit line for its realization. The government then postponed the project and used only ADB’s legal and institutional recommendations.

Recently the government allocated AZN 2 million for study f prospects in the area of alternate energy. In 2010, the State Oil Fund of Azerbaijan (SOFAZ) and Azerbaijan Investment Company (AIC) prepare to launch financing for renewable energy sector.

19.01.2010 09:21