Not just an oil and gas story

摘要

Azerbaijan's oil and gas production is well documented, but its renewable energy potential is worthy of attention. The dependence of the country's economy on energy exports has perhaps acted as a disincentive for it to invest in a green future and its Soviet-era power infrastructure is in poor condition. In addition, electricity prices have been capped below the market rate and the common incidence of non-payment means a lack of capital for new generation. Nevertheless the government has made the appropriate noises over the past few years that have attracted the interest of investors. Cynics may say the state's new enthusiasm for wind, solar, small hydro and biomass is surely based on the logic that a diversification of energy sources at home would leave more fossil fuels for export.