ADB may extend up to USD 40m for biomass plants in Azerbaijan

May 13, 2013 - The Asian Development Bank (ADB) is considering a loan of up to USD 40 million (EUR 31m) to two biomass to power and heat projects in Azerbaijan of 16 MW in total.

In a summary on its website, the lender said the proposed loan could go for two pilot biomass cogeneration installations to provide electricity and heating in the Oghuz and Agjabedi regions of the country. A Management review meeting at ADB will be held on June 6.

The State Agency on Alternative and Renewable Energy Sources (SAARES) of Azerbaijan will be the project executing agency and implementing agency.

The biomass projects are to avoid the emission of 24,000 tonnes of carbon dioxide equivalent (tCO2e) annually. ADB said that the projects could be scaled up and replicated in other regions in Azerbaijan with similar resources and conditions.

Azerbaijan has a huge renewable energy potential that is still untapped. In 2011 the country produced 19.2 TWh, of which 82% came from gas-fired power plants and 18% from hydropower.

(USD 1 = EUR 0.771)

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