The move intended for the development of alternative energy in Azerbaijan forms part of a government report on the results of 2011, presented to the Parliament according to the country’s Trend News Agency.
Nearly AZN15m ($19m) from the public investment program has been earmarked to fund the eight hydropower plants.
The proposed power plants include Goychay with a capacity of 3.5MW, Ismayilli-1 and Ismayilli-2 at 1.6MW each, Hussar-1 with 1.1MW, and Astara-1, Balaken-1 and Oguz-1 and Oguz-2 at 0.5, 1, and 1.2MW each, respectively.
Azerbaijan has allocated AZN30.4m ($38m) in 2009 and EUR11.75m last year for the development of alternative and renewable energy.
