Azerbaijan Plans $7 Billion Boost for Renewable Energy by 2020
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Azerbaijan plans to raise renewable energy capacity in the country, the third-largest oil producer of the former Soviet Union, to about 20 percent of total power demand by 2020, with investment estimated to reach $7 billion.
The government drew up a strategy to build 2,000 megawatts of capacity in the next eight years, Ramiz Rzayev, a department head at the Ministry of Industry and Energy, said today by phone from Baku. Investors will provide most of the funds, he said.