BAKU, Azerbaijan, February 23. At present,
renewable energy sources contribute 44% to the total installed
capacity and account for 36.4% of electricity generation in
Nakhchivan, Azerbaijan’s Energy Minister Parviz Shahbazov said,
Trend
reports.


He made the announcement at the Ministry of Energy with the
participation of Azerenergy Open Joint-Stock Company (OJSC),
Nakhchivan Autonomous Republic’s Minister of Economy Kazim
Huseynaliyev, the State Agency on Renewable Energy Sources,
Azerbaijan Green Energy Company (AGEC), CEI Nakhchivan Limited
Liability Company (LLC), Nobel Energy, and Enerso LLC.


“The wide application of renewable energy sources to strengthen
the energy security of the Nakhchivan Autonomous Republic,
accelerate its sustainable socio-economic development, and
transform it into a regional energy production and export hub is
one of the priority directions of the strategic course set by the
head of state. Currently, the share of renewable energy sources in
Nakhchivan accounts for 44% of installed electricity capacity and
36.4% of production. The Shams 1 and Garbi Ufug solar power plants,
which represent the first examples of private investment in the
renewable energy sector in Nakhchivan and have a total investment
value exceeding 60 million manat ($35.2 million), will make a
significant contribution to the formation of a green development
model in the region,” Minister Shahbazov stated.


During the meeting, an Investment Agreement, a Power Purchase
Agreement, and a Grid Connection Agreement were signed between the
Government of the Republic of Azerbaijan and Azerenergy OJSC, and
CEI Nakhchivan LLC for the 25 MW Shams 1 Solar Power Plant project
in the Nakhchivan Autonomous Republic. Similar agreements were also
signed between the Government of Azerbaijan and Azerenerji OJSC,
and Enerso LLC for the 25 MW Garbi Ufug Solar Power Plant
project.







The investment agreements were signed on behalf of the
Government of Azerbaijan by Energy Minister Parviz Shahbazov, while
the power purchase and grid connection agreements were signed by
Baba Rzayev, President of Azerenerji OJSC.


The implementation of these projects is expected to generate a
total of 122 million kilowatt-hours of electricity annually,
enabling savings of 26 million cubic meters of gas and reducing
carbon emissions by 57,000 tons.