According to Azerbaijani media, the country has plans to install an offshore wind farm in the area of of offshore oil production off the coast of Pirallahi Island.
The project would be the first offshore wind farm built within an offshore oil production area. Its primary cost is estimated to AZN 450 million (around EUR 400 million, USD 428 million).
Akim Badalov, Chairman of the State Agency for Renewable and Alternative Energy Sources, said that the project is now in the process of interdepartmental consideration. He also revealed that the project would be financed by foreign investors, which have already expressed interest in the offshore wind farm.