Azerbaijan’s Growth in the Alternative Energy Market

A managing director at ICON Capital, Dirk Coetzer also serves the same role at Firminy Capital. A veteran of the trading industry, Dirk Coetzer possesses knowledge in securities, particularly in the alternative energy sector.

While there is still controversy surrounding which materials are considered to be alternative energy sources, the underlying purpose of alternative energy is to replace existing energy sources with less environmentally harmful substitutes. In previous years, substances such as coal and petroleum were identified as alternative energy sources; more recently, biofuels and bioenergy were named to the list. Additionally, thermal, wind, and solar energies are considered alternative resources.

In recent news, the country of Azerbaijan was recognized for its ability to leverage more than 12,000 megawatts of alternative and renewable energy sources to power different areas of its homeland. More than 41% of the power derives from solar energy, with wind and geothermal energies coming in second and third, respectively. The bounty of alternative energy sources spurred leaders of the country to announce its plans to create a new form of electricity by 2015. It is expected that Azerbaijan will reach a 40% share of the solar energy market by 2020.

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