Green energy may get new push with WB's help
Azerbaijan is taking serious steps to develop alternative energy today and the country may count on assistance of the World Bank (WB) in this issue.
The WB is working with Azerbaijan’s Ministry of Ecology and Natural Resources to examine different options of the "green economy" development, Head of the WB Baku Office, Naveed Naqvi, told Trend.
The bank has also been able to mobilize funds from the Korean Green Growth Trust Fund, to support green economy in Azerbaijan.
Naqvi further said that apart from having a longstanding partnership with Azerbaijan in the energy sector, there were preliminary conversations with Azerbaijan’s Energy Ministry regarding alternative energy sources.
"Currently, there are no specific projects, but if the government is interested in working with the WB on alternative renewable energy, such as wind or solar power, we will provide our support," he concluded.
In accordance with the Decree of President Ilham Aliyev, in 2013, the State Agency of the Republic of Azerbaijan on Alternative and Renewable Energy Sources was created, and a number of documents were signed and programs were adopted to develop this industry. These documents provide for bringing alternative sources to 20 percent of the total energy consumption of Azerbaijan by the end of 2020. It is obvious that the development of alternative energy is included in the number of priority directions of state development.
To this end, negotiations are underway with foreign companies and investors, including companies from China, the UAE, the US and the EU.
For example, the Norwegian company DNV GL will help create a support system and a legal framework in Azerbaijan's alternative energy sector.
The capacity of the energy system of Azerbaijan is more than 6,000 megawatts. At the same time, according to experts, the potential of renewable energy sources in the country is more than 25,300 megawatts. , which will allow generating 62.8 billion kilowatt hours of electricity annually.
Most of the country's potential in this area falls on solar energy, while it is estimated at 5,000 megawatts.
Some 4,500 megawatts accounts for wind power, 1,500 megawatts -- for biomass, 800 megawatts -- for geothermal energy, and the remaining 350 megawatts -- for the small hydro power plants (HPP).
According to the State Statistics Committee of Azerbaijan, in January-September 2018, hydropower production amounted to 1,422.3 kilowatt hours, solar energy to 31.7 kilowatt hours and wind power to 31.9 kilowatt hours.
The usage of renewable sources is gaining more and more supporters, and it is obvious that the future of humanity will largely depend on this method of energy production. Today, 80 percent of world energy consumption comes from hydrocarbons (oil, natural gas and coal), and 20 percent from renewable sources and nuclear energy. Energy consumption in the world is growing every day, and traditional energy sources are rapidly being exhausted.
According to the forecasts of the International Energy Agency (IEA), 60 percent of world energy will come from hydrocarbons in 2040, and the largest percentage will come from natural gas, while 40 percent from nuclear energy and renewable energy sources, mostly from wind and solar energy.
Ecologically pure infrastructure of the production of this type of energy is of great importance.
Alternative energy sources are safe for humans and the environment, as they do not produce harmful emissions into the atmosphere. On the contrary, hydrocarbon-based energy is the main source of pollution of the Earth’s atmosphere; it can lead to irreversible climate change on the planet.
Founded in 1944, the WB activity touches nearly every sector that is important to fighting poverty, supporting economic growth, and ensuring sustainable gains in the quality of people’s lives in developing countries.
Recently, the Azerbaijani Ministry of Agriculture has launched a project to create greenhouses within the framework of a joint project with the World Bank (WB), the second phase of Azerbaijan Rural Investments (AzRIP).
Azerbaijan joined the World Bank Group in 1992. Since then, commitments to the country totaled over $3.78 billion for 50 projects.