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Friday, June 22, 2007

World Bank energy mission to visit Azerbaijan

14 June 2007 - APA-Economics - World Bank’s senior energy economist Bjorn Hamso will lead an energy mission to Baku on June 18. The World Bank Office in Baku told that the objective of the visit is to get acquainted with the World bank-funded Power Transmission Project and have discussion over prospects of cooperation. The Power Transmission Project will improve the reliability, quality and cost-effectiveness of the electricity supply in the country through investments improving management and performance of the high-voltage transmission network. The Project will consist of three main components. The first component, Power Transmission Management, will upgrade the electricity dispatch system in the country, which in turn will support more reliable, secure and economic operation of the electricity sector and facilitate financial settlements in a future wholesale electricity market. The second component, Transmission Network Rehabilitation, will cover priority investments in rehabilitation of high voltage transmission lines and selected high-voltage substations. Under the third component, Management Assistance, technical assistance will be provided to improve the management systems of Azerenerji and prepare the company for a future restructured energy sector. The project was approved in 2005. The total cost of the project is $55 million, of which $47 million is to come from the World Bank.

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