5 small hydropower plants located on the Hekari and Tartar rivers will be restored.
Establishment of sustainable types of energy in Azerbaijan and transportation of "green energy" to world markets are among the priorities of the country's energy policy. It is no coincidence that 2024 was declared the "Year of Solidarity for the Green World" in our country by the Decree of the President of the Republic of Azerbaijan. In addition, our country will host COP29, one of the most important interstate events in the world in 2024 at the initiative of the head of state. In this regard, it is important to cooperate with private investors for the purpose of implementing alternative energy projects in Azerbaijan, efficient use of "green energy" sources in our liberated areas, restoration of hydropower plants and creation of new ones.
However, work is being continued in the direction of creating a "green energy" zone in the region by effectively using the hydropower potential of our territories liberated from occupation in accordance with the "I State Program on the Great Return to the liberated territories of the Republic of Azerbaijan".
A Joint Participation Agreement was signed between "Azerbaijan Investment Company" OJSC, Turkey's "Demirören Yatırım Holding A.Ş." the Group of Companies and "Arges Enerji Team" LLC based on the performance of the tasks with the participation of Minister of Economy Mikayil Jabbarov, Minister of Energy Parviz Shahbazov and Ambassador Extraordinary and Plenipotentiary of the Republic of Turkey to Azerbaijan Cahit Bagci.
The document was signed by Ulvi Mansurov, executive director of "Azerbaijan Investment Company" OJSC (AİŞ), Yıldırım Demirören, chairman of the Board of Directors of "Demirören Yatırım Holding A.Ş" Group of Companies, and Mehmet Fehmi Özata, head of "Arges Enerji Team" LLC.
Aa per the contract, 5 small hydropower plants located on the Hekari and Tartar rivers in Kalbajar and Lachin regions are planned to be restored and put into operation.
The implementation of the project will contribute to the public-private sector partnership, the creation of new jobs, the improvement of experience and skills in the field of renewable energy, the goal of increasing the share of renewable energy sources in energy production to 30% by 2030, and the reduction of greenhouse gas emissions.
The project of restoring and organizing the operation of 5 small hydroelectric power plants located in Kalbajar and Lachin regions is the second project of AIC on attracting private investment to the liberated territories. The first project was the sawstone production project in the limestone deposit located in the village of Shahbulag, Agdam region.
