Implementation of measures to attract additional investments in the renewable energy sector was discussed -

Implementation of measures to attract additional investments in the renewable energy sector was discussed

The implementation of the "Action plan on attracting additional investments in the renewable energy sector”approved at the meeting of the Cabinet of Ministers of the Republic of Azerbaijan on May 22, 2020 was discussed at the Ministry with the participation of the Minister of Energy Parviz Shahbazov. The work done on ten events was brought to the attention.

It was noted that land issues were solved, wind-measuring observation stations were installed, “Power Purchase and Sale Agreement”, “Investment Agreement”, “Transmission Network Connection Agreement” and “Land Lease Agreement” are presented to investors and the signing of the documents is scheduled for next month aimed at the implementation of pilot projects on 240 MW wind power and 200 MW solar power with the companies “ACWA Power” of the Kingdom of Saudi Arabia and “Masdar” of the United Arab Emirates. It was brought to the attention that the state guarantees are determined on the financial and non-financial liabilities to investors, and economic, ecological and social assessments of the projects are carried out. It was stated that relevant terms of references and connection schemes covering energy system management, power transmission, relay protection and automation measures related to the strengthening of the network and integration of projects into the network were developed, as well as measures on selection of the most optimal option were continued.

It was noted that, in order to increase the share of renewable energy sources in the installed capacity by 30% by 2030, the relevant proposals were launched by involving a consultant company on the measures to determine the optimal limit of the additional power to be connected to the power grid. The sides exchanged views on the determination and auction of territories for additional capacity on renewable energy.

The necessity of continuing cooperation with companies that submitted proposals on the use of renewable energy sources was underlined.

Issues arising from the preparation of permits for the construction of power plants in the territories of renewable energy sources and simplified procedures for admission to operation were also discussed. 

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