Alternative energy may take a significant share in Azerbaijan’s energy market, Director General of Russia’s Energy Development Fund Andrei Listovsky.

Axar.az reports citing Trend.

He said this is not yet envisaged in Russia, since there are no consumers in places where it is possible to produce energy from the Sun and wind.

"In Azerbaijan, everything depends on the proximity of consumers to the places of generation," said Listovsky.

He further noted that wind power engineering is mainly developing in Russia.

Commenting on the possibility of cooperation between Russia and Azerbaijan on alternative energy, he said Russia may supply equipment for solar and wind power plants to Azerbaijan and help develop projects.

Azerbaijan is taking serious steps to develop alternative energy. To this end, negotiations are underway with foreign companies and investors, including companies from China, the UAE, the US and the EU.

Most of Azerbaijan's potential in this sector comes from the solar energy and this potential is estimated at 5,000 megawatts.

Wind power accounts for 4,500 megawatts, biomass for 1,500 megawatts, geothermal energy for 800 megawatts, and small hydropower plants for the remaining 350 megawatts.

The potential of renewable energy sources in Azerbaijan exceeds 25,300 megawatts, which will allow generating 62.8 billion kilowatt hours of electricity annually.

In January-October 2018, hydropower production amounted to 1,528.4 kilowatt hours, solar energy to 35.1 kilowatt hours and wind power to 42.5 kilowatt hours, according to the State Statistics Committee of Azerbaijan.