AFEZ looking to assembling of renewable energy equipment

By Azernews

Qabil Ashirov

Assembling of renewable energy equipment is being considered in Alat Free Economic Zone (AFEZ), Azernews reports, citing the chairman of AFEZ Valeh Alasgarov’s interview with NE Global on the sidelines of the 9th Ministerial Meeting of the Southern Gas Corridor Advisory Council and the 1st Ministerial Meeting of the Green Energy Advisory Council on February 3 in Baku.

Touching on Azerbaijan’s wind energy capacity in the surrounding areas of the Absheron Peninsula, Valeh Alasgarov said that it can be compared the energy with the wind energy capacity in the North Sea.

The chairman also added that Azerbaijan also wants to harness opportunities in other sectors through innovative private sector initiatives, including wind and solar industries. So, for reducing the price of electricity production AFEZ intends to establish at the first stage the assembling of renewable energy equipment.

“At the next stage if you organize the production of all equipment here the price will drop much more and because of the low price of equipment, low price of construction, low cost of operation, cost of energy produced and exported to Europe will be cheaper,” he said.

The chairman noted that a few days earlier he visited Disselhoff, Dortmund, and Gladbach in Germany and held discussions on renewable energy with state officials. He noted that the only way to accelerate the process of electricity production in Azerbaijan and surrounding countries is by establishing the manufacture of solar panels and power stations in the Alat Free Economic Zone.

He argued that the same successful principles of extraterritoriality and the independence of the regulatory body established for oil and gas projects could be established for green energy production and export.

“Without the establishment of such a regime for gas projects, the price of gas would have been much higher and much more unpredictable for investors. Predictability is very important for any investor,” Alasgarov said.

“In addition to the Baku-Tbilisi-Ceyhan pipeline, as well as to the South Gas Corridor pipeline, it’s a new pipeline for green energy,” he added.