Deputy Economy Minister:Private Investors Collaborate To Transform Azerbaijan's Karabakh Into Green Zone

6/1/2024 10:09:00 AM

(MENAFN- AzerNews) The Karabakh region is emerging as an alternative green energyzone, Azerbaijani Deputy Economy Minister Anar Akhundov said duringa foundation-laying ceremony for projects to restore and operatesmall hydroelectric power plants in Lachin, Azernews reports.

"Today, the development of the territories liberated fromoccupation is paramount. Under the leadership of President IlhamAliyev, the "Great Return" program to our liberated lands is beingsuccessfully implemented. The region is evolving into a hub ofalternative green energy. Active cooperation with private investorsis being fostered in this direction," he stated.

To note, on June 1, a foundation-laying ceremony for a smallhydroelectric power plant was held in Lachin.

As part of the project to operate five small hydroelectric powerplants in the Kalbajar and Lachin districts of Azerbaijan, thefoundation-laying ceremony for the Malibay small HPP tookplace.

Last December, Azerbaijan Investment Company OJSC, DemirorenYatırım Holding, and Arges Enerji Team (Türkiye) signed a JointParticipation Agreement, according to which five small HPPs will beput into operation on the Hakari and Tartar rivers.

The total budget allocated for the project amounts to 25 millionmanat, or $14.7 million. In its entirety, the project aims tocommission five stations with a combined capacity of 13.8 MW by theyear 2025. These stations are expected to have a service life of 30years, and the project implementation will generate 25 newemployment opportunities.

The project's first phase involves constructing the Malibay HPPon the Zabukh river in Lachin district, with a capacity of 5.1 MW the subsequent stage, the Galacha 2 HPP (3.4 MW), Minkend HPP(1.8 MW), and Galacha 1 HPP (1.1 MW) are planned for construction third phase includes the construction of the Tartar 1 (2.4 MW)small HPP on the Tartar river in Kalbajar district.

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