The project will receive some 1.5 million USD in funding from the UNDP. The funds will go towards the setting up setting up smaller projects and gaining the experience necesscary to move into larger scale and wider application at a future point in time when needed.
A UNDP Representative was quoted as saying: "This project will allow Azerbaijan to acquire information required for the introduction of the new technology, at the same time also adapt this technology to the local conditions of the country. It will also assist in the preparation of necessary legal framework for creating a favorable condition for private sector involvement. Another important dimension is the formation of human capital necessary for Azerbaijan to be capable to continue to develop and expand the alternative energy sector. The initiative will make the international knowledge available for the Azerbaijani scientists. By using this knowledge, they will progress with the implementation of the projects that is the guarantee of the project's future sustainability. These projects will be first stage for expanding future collaboration between UNDP on one side, and your ministry on other side for the further development of renewable sources of energy in your country."
Mr. Natig Aliyev, the Minister of Industry and Energy has noted that the long term strategy of Azerbaijan has plenty of room for these kinds of projects which will help to bring knowledge, jobs, and a better enviroment for investment.
