Economic analysis of alternative energy development in Nagorno-Karabakh and surrounding regions

¹ “SABAH” center, Azerbaijan State University of Economics, UNEC, Istiqlaliyyat str. 6, Baku, Azerbaijan.
² Department of World Electric Power Industry, International Institute of Energy Policy and Diplomacy at Moscow State University of International Relations (MGIMO University) under MFA, 76 Prospekt Vernadskogo, Moscow, Russian Federation
³ Department of Economics of Oil and Gas Industry, State University of Oil and Gas “Gubkin University” (Gubkin University), 65 Leninsky Prospekt, Moscow, Russian Federation

^* Corresponding author: guliyevaaida@ymail.com

Abstract

This paper studies the main opportunities for stimulating investments in the alternative energy development through implementation of state plans for creation and support of favourable socio-economic conditions in Nagorno-Karabakh and 7 surrounding regions. Due to the longevity of projects on renewable energy sources, as well as the traditional financing of infrastructure projects, it is extremely important that political and economic interests were protected by law. At the present time there are active project work on development and optimisation of energy sector, and therefore understanding of basic principles is quite diverse in public and private sectors. Main conclusions and recommendations are developed and presented for economic development of renewable energy sources (RES) in Nagorno-Karabakh and surrounding regions of Azerbaijan.