Azerbaijan extends EU energy project realization

Azerbaijan has extended the period for supporting the implementation of the “Energy reform support program” within the framework of assistance to the country by the European Commission, according to a decision taken by the Cabinet of Ministers of Azerbaijan, as published on November 11 in the official press.

The decision calls for the project implementation period to be extended for two years, until 2016.

The project envisages preparation of a comprehensive and integrated strategy in the energy sector, preparation and execution of the action plan for alternative and renewable energy sources and greater energy efficiency, improvement of legislation on alternative and renewable energy and energy efficiency, and ensuring its compliance with European legislation.

In addition, implementation of pilot investment projects on alternative and renewable energy sources and energy efficiency in Azerbaijan have been extended for one year, until the end of 2016.

In support of the development of the energy sector, the European Commission has allocated to Azerbaijan a grant of 13 million euros, 5.45 million euros of which were allocated for the project to support the implementation of reforms. Further, five million euros were set aside for the implementation of pilot investment projects on alternative and renewable energy sources and energy efficiency.

SOURCE: AZER NEWS

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