Azernews.Az

Renewable energy development in Azerbaijan provides great opportunities for the private sector, government and international organisations, World Bank acting country manager for Azerbaijan, Saida Bagirli, told Trend news agency on Monday.

The Azerbaijani government and the World Bank have begun a dialogue aimed at developing the country's renewable energy resources.

"We have just begun to consider this area. There are no specific developments, so it is too early to speak about it yet. We need to spend time on quite serious consultations," Bagirli said.

The parties will come to a concrete decision on the matter by the end of the year, the government told Trend.

Azerbaijan is developing a strategy for the use of alternative and renewable energy sources in 2012-2020. Management of this strategy will enable the country to reach a 20 per cent threshold share of alternative energy by 2020 in the total energy consumption.

This indicator amounted to 10 per cent in 2011.

Azerbaijan is an oil and gas country and electricity producer. The country produces about 50 million tons of oil, 27 billion cubic meters of gas and more than 18 billion kilowatt / hours of electricity. All this requires the use of new technologies in order to reduce and prevent emissions from the mining, fuel combustion and gas industries.