Baku, Azerbaijan, June 8
By Maksim Tsurkov - Trend:
Azerbaijan's State Agency for Alternative and Renewable Energy Sources needs $165 million worth investments to construct an agro-energy residential complex in the country's Samukh district, says the 2016 investment catalogue of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO).
"It is planned to construct a solar power plant with a capacity of 20 megawatts, a biogas plant with the capacity of 8 megawatts and a geothermal power plant with the capacity of 3 megawatts as part of the project," according to the investment catalogue. "The complex will also include an agricultural area, where it is planned to produce 9,000 tons of vegetables, 20 tons of milk and 1,000 tons of meat per year."
The project's cost is estimated at $165 million. It is planned to finance the project with the state budget funds, private investments and the funds from international financial organizations.
Azerbaijan has a great potential for developing the alternative energy sector. The wind power potential in the country is 4,500 megawatts, the biomass power potential is 1,500 megawatts, while the potential of small hydropower plants is 350 megawatts.
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