OREANDA-NEWS. October 12, 2009. The ministerial conference on a project of raising energy efficiency of economics being realized by European Union’s program INOGATE is to be held in Brussels today.

Well-informed sources say that the representatives of the Ministry of Industry & Energy of Azerbaijan will also take part in the conference.

“At the same time Azerbaijan has already notified INOGATE of its approach towards the problem by recognizing that he was delayed with its solution. Azerbaijan also considers that traditional ways of energy production have exhausted themselves and renewable energy sources cannot substitute them fully. Azerbaijan also reports of lack of financial capacity for increasing energy efficiency and weakness of staff potential in the field. But the country is ready to participate in INOGATE project and hopes for efficiency of support by the latter,” a source said.

Two-day conference “Renewable Energy: International Best Practice & Prospects for the Development in Azerbaijan” has started in Baku today with the support of the OSCE.

Within tit framework potential donors will be proposed current and planned projects in the field of renewable energy and energy efficiency.

According to some data, alternative energy can ensure up to 20% of power generation in the country.