Plans for 200-MW Caspian Sea wind park filed with Azerbaijan govt - report

Plans for a 200-MW wind farm in the Caspian Sea, worth about AZN 450 million (USD 428.5m/EUR 392m) to AZN 500 million, have been submitted to the government of Azerbaijan, an official told Trend News Agency.

Several ministries, including of the environment and energy, have already given positive feedback on the project, Jamil Malikov, deputy head of the State Agency for Alternative and Renewable Energy Sources of Azerbaijan, was cited as saying. He also told Trend that the project has attracted the interest of investors from China, Germany and the Arab countries.

The plan is to finance the wind farm through export credits. The payback time has been calculated at roughly 10 years.

The renewable energy potential of Azerbaijan has been estimated at over 12,000 MW, including 5,000 MW of solar and 4,500 MW of wind.

(AZN 1 = USD 0.952/EUR 0.871)

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