BAKU, Azerbaijan. Oct. 31
By Fidan Babayeva - Trend:
Azerbaijan is investing in renewable energy sources (RES), Head of the Department of the Energy Regulatory Agency of the Azerbaijani Ministry of Energy Fariz Shirinov said, Trend reports.
In 2019, President Ilham Aliyev signed an order ‘On measures to implement pilot projects in the field of using renewable energy sources’, said the head.
“Azerbaijan is also investing in the alternative energy sector. Thus, the investors are exempted for seven years from paying income tax or corporate income tax in the amount of 50 percent of profits, taxes on the import of equipment and structures for a period of seven years, exemption from land tax for land owned by the investor and other benefits,” said Shirinov.
Touching upon the sources of wind energy, Shirinov noted that the economic zones of Azerbaijan - Absheron, Guba-Khachmaz, and Kalbajar-Lachin are favorable for the production of wind energy.
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