Turkmenistan Has Huge Potential For Development Of Renewable Energy Sources - ADB
(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 7. Turkmenistan has a
huge potential for the development of renewable energy sources,
such as solar and wind energy, so investments in the
diversification of sources can bring profit, trend reports via the
latest ADB's Asian Development Outlook.
According to Asian Development bank (ADB), since the energy
sector produces 85 percent of greenhouse gas emissions, the
government prioritizes reducing fossil fuel emissions, and the
first measure under consideration is improving energy efficiency in
the production, consumption, and transportation of hydrocarbons,
including preventing methane leaks.
Contributing to technological progress, the country plans to
explore the possibilities of creating "green" hydrogen by studying
and adopting modern practices used in developed countries, the bank
said.
"Implementing these measures requires further policy reform and
institutional strengthening. These steps would improve the current
regulatory and legislative framework, develop financial and tax
mechanisms to promote GHG reduction, stimulate investment in
research and development, and encourage private sector investment.
Achieving technological advances would require access to global
finance and technology to facilitate the adoption of global best
practices," the bank added.
Meanwhile, Turkmenistan has tremendous potential for harnessing
solar energy. With more than 300 sunny days annually and with the
average annual intensity of solar radiation ranging between 700–800
watts per square meter, the total technical potential of solar
energy amounts to 655 GW.
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