The liquidation of "Azalternativenerji" LLC will serve to reduce the demand and risks for state resources

Shabnam Mammadli

Sector director of the Monitoring of socio-economic programs

08 August 2023, 17:34

 The liquidation of "Azalternativenerji" LLC will serve to reduce the demand and risks for state resources

By the Decree of President Ilham Aliyev dated August 5, 2023, "Azalternativenerji" LLC under the State Agency for Renewable Energy Sources under the Ministry of Energy of the Republic of Azerbaijan was abolished. Shabnam Mammadli, chief advisor of the Monitoring and Evaluation Department of the Center for Analysis of Economic Reforms and Communication, commented on the issues arising from the Decree.

S. Mammadli said that according to the Decree, after the liquidation process of "Azalternativenerji" LLC was completed by settlement with creditors in accordance with the requirements of the civil legislation, the remaining property was declared open for privatization.

Established by the Decree of the President of Azerbaijan dated February 1, 2013, "Azalternativenerji" LLC's main activities are exploration, development, energy production, transportation, distribution, as well as design, production, construction, operation and infrastructure provision of equipment, facilities and objects for energy purchase in the field of using renewable energy sources. At the same time, MMC also operated and managed solar energy systems installed in a number of social facilities.

According to the relevant Decree, the privatization of property is planned to be carried out in accordance with the "II State Program of Privatization of State Property in the Republic of Azerbaijan". In addition to local investors, foreign investors will be allowed to participate in the privatization.

S. Mammadli said that such measures will serve to reduce the demand for state resources and risks by implementing measures in the direction of optimization of the direct participation of the state in the economy, gradual privatization of state-owned assets, except for strategic areas.

Also, measures such as increasing economic efficiency, improving management and increasing transparency in the activities of state-owned legal entities are reflected in the "Socio-economic Development Strategy of the Republic of Azerbaijan in 2022-2026".

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