First project financed through Energy Efficiency Fund
Baku, October 20, AZERTAC
Efforts to improve energy efficiency and optimize energy consumption continue in Azerbaijan. The first project has been financed under a cooperation agreement between the Azerbaijan Energy Regulatory Agency (AERA) and Kapital Bank OJSC on providing preferential loans from the Energy Efficiency Fund through an authorized credit institution.
The project, the first financed in the renewable energy sector, involves the installation of solar panels by active consumers. It is expected to save approximately 50,000 cubic metres of natural gas and prevent 100 tonnes of carbon emissions annually.
This year, AERA signed cooperation agreements with 14 leading banks across the country, including Kapital Bank, to provide preferential loans from the Fund through authorized credit institutions. These loans offer individuals and legal entities more favourable financing opportunities to implement energy-efficiency and renewable energy projects.
Other news in this section
