Azerbaijan plans 200 MW offshore wind farm
Date
November 04, 2015
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According to sources, Azerbaijan has plans to develop a 200 MW offshore wind farm in the Caspian Sea. The government has already given the green light to the carry out the wind project
The total project investment is estimated at AZN450 million (US$428.7 million). Investors from China, Germany and the Arab countries are interested in the project. It is expected that the wind farm will be financed through export credits.
Azerbaijan has plans to increase the share of renewable energy in electricity to approximately 20 percent, a third of this would come from wind energy. The country aims to generate about 2 GW of renewable energy by the end of this decade.
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