Published on September 25th, 2014 | by Mridul Chadha11
Azerbaijan To Help Iran Develop Renewable Energy Projects
September 25th, 2014 by Mridul Chadha
Iran is looking to expand its renewable energy sector, and has sought the help of neighbouring Azerbaijan to implement wind and geothermal power projects.
Azerbaijan has expressed intention to actively participate in some renewable energy projects being undertaken by the Iranian government. Azerbaijan is interested in working with Iran in wind and geothermal power plants. The latter is looking to learn about the clean energy technologies.
The State Agency for Renewable & Alternative Energy Sources of Azerbaijan has expressed its willingness to help Iran and its project developers implement renewable energy projects. Chairman of the agency Akim Badalov said that a team will be sent to Iran soon to explore the areas of potential collaboration.
An Azerbaijani company ASPI Consulting Engineers Inc had participated in exploring the feasibility of implementing small hydro power projects on the Iranian coast of the Caspian Sea.
Iran aims to add about 5,000 MW of wind and solar power capacity by 2018. Earlier this year, the Iranian government had announced elaborate plans to boost renewable energy infrastructure. While most of the 5,000 MW capacity would be based on wind energy technology, the government intends to develop at least 500 MW of solar power capacity initially. Construction on 400 MW capacity has already been started while contracts for 900 MW projects have been signed.
The government has implemented a number of favorable policy initiatives to promote renewable energy infrastructure development. The Iranian energy ministry introduced feed-in tariff of $0.15 per kWh for renewable energy projects. The government also provides 50% of the installation costs of residential solar power systems.