BAKU, Azerbaijan, October 14. The Azerbaijani government considers to attract foreign investors to the construction of a renewable energy facility on the premises of the Azeraluminium enterprise in Ganja, a source in the government told Trend.
"The project involves the construction of a 400 MW renewable energy facility that would supply electricity to the Azeraluminium plant in Ganja and can also provide green energy to other facilities in the city," the source pointed out.
According to the source, options for creating a solar power plant and a wind farm are being discussed, but the final decision will depend on the attractiveness of proposals from potential investors.
"For investors, preferential conditions will be in place for seven years (complete exemption from land tax, property tax, and customs duties on imported equipment, as well as a 50 percent exemption from profit tax and income tax)," the source explained.
To note, Azerbaijan aims to increase the share of renewable energy in the country's overall energy balance to 35 percent by 2030.
The Azeraluminium LLC is a leading company in the country’s non-ferrous metallurgy sector. The Ganja aluminum complex has been operating since 2008.