Energy Efficiency Fund is being established in Azerbaijan

In order to stimulate and promote measures for the rational use of electricity and energy efficiency, an Energy Efficiency Fund is being created in Azerbaijan.

This is stated in the law "On the rational use of energy resources and energy efficiency", approved by President Ilham Aliyev.

According to the document, the fund will be financed from the sale deductions of energy resources; loans, grants, voluntary donations from legal entities and individuals, receipts from international organizations and other donors, income from the fund management and other sources not prohibited by the legislation of Azerbaijan.

Resources of the fund will be used to support the implementation of energy efficiency measures and state programs, financing of relevant scientific and technical activities, the use of smart meters and systems, cogeneration and the use of highly efficient cogeneration facilities, the use of renewable energy sources.