$1bn for Azerbaijan’s power network

A $1 billion (£0.65bn) fund is being invested in Azerbaijan’s power distribution network. It will be used to upgrade and expand the power distribution lines, substations and customer service lines as […]

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A $1 billion (£0.65bn) fund is being invested in Azerbaijan’s power distribution network.

It will be used to upgrade and expand the power distribution lines, substations and customer service lines as well as replace existing electric meter devices with digital devices.

The Asian Development Bank (ADB) is lending $750 million (£490m) while the Government of Azerbaijan will provide the rest of the funding.

ADB Vice President Wencai Zhang said: “The programme will deliver more reliable power supplies, reduced distribution losses and higher quality customer service.”

Domestic electricity sales in Azerbaijan are expected to rise 3% annually between 2015 and 2020.