Waste to Energy Generation






Business Model Description
Construct and operate waste to energy plants, generating electricity out of waste from homes, non-hazardous commercial, and industrial waste through thermal waste treatment (grate combustion), and sell the electricity to the national grid while recovering and recycling the bottom ashes for road construction.
Expected Impact
Increase the share of renewable energy in the national energy mix, while reducing the volume of wastes disposed in landfills and associated emissions.
How is this information gathered?
Investment opportunities with potential to contribute to sustainable development are based on country-level SDG Investor Maps.
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Country & Regions
- Azerbaijan: Baku
- Azerbaijan: Absheron - Khizi
- Azerbaijan: Garabagh
- Azerbaijan: Ganja - Dashkasan
Sector Classification
Renewable Resources and Alternative Energy
Development need
Azerbaijan is a net energy exporter rendering its economy vulnerable to oil price volatility. Fossil fuels account for 98.7% of total energy consumption whereas renewables constitute only 1.3%. Despite Azerbaijan contributing only 0.15% of the world's total global GHGs, its energy sector is responsible for 80% of the country's total emissions (1, 2, 3, 4).
Policy priority
Strategic Roadmap for Development of Utilities Services, 2016 aims to expand renewable energy generation with investments in wind, solar and hydro power stations through public-private partnerships by 2025. The government targets to increase the share of renewable energy in the nation’s overall energy mix to 30% and aims 35% of GHG reduction by 2030 (5, 6).
Gender inequalities and marginalization issues
Recurrent power shortages, unstable heating systems, and insufficient maintenance and repair services have a negative impact on households' well-being, particularly in rural districts where the distribution network is relatively deteriorated and available facilities cannot provide a reliable of source energy. Ensuring reliable access to energy increases women's access to economic opportunities, information technology, and time-saving appliances alleviating domestic responsibilities (9).
Investment opportunities introduction
Potential of renewable energy sources of Azerbaijan are high; including more than 20,000 MW from solar energy, 15,000 MW from wind energy including off-shore zones, and 900 MW from biomass and waste energy. Each year, Azerbaijan consumes 183 TWh of total energy including electricity (6, 7, 19).
Key bottlenecks introduction
High levels of informality in the labor market, infrastructural disparities across regions, no feed-in tariff incentives or special tariffs for renewable energy investors, lack of incentives including lease incentives, lack of technical, legal, and regulatory infrastructure are the key bottleneck of renewable energy sector of Azerbaijan (8).
Alternative Energy
Development need
Azerbaijan's energy mix is heavily reliant on fossil fuels. Natural gas accounts for 90% of electricity generation. Primary energy demand increased by 5.8% in 2021, compared to 1.3% in 2019. The country's electricity transmission and distribution systems have room for improvement, emphasizing opportunities for enhancement can lead to even more efficient and reliable electrical services (8, 10, 11).
Policy priority
Azerbaijan 2030: National Priorities for Socio-Economic Development emphasizes clean energy and sustainable energy sources across sectors to reduce impact on climate change. Non-oil sector diversification is deeply favored due to the decline in global oil prices and national oil revenues stemming from the global trend of transitioning into green energy (12, 13).
Gender inequalities and marginalization issues
Enhanced access to clean energy is specifically crucial for women and their health, as they traditionally are the one in charge of cooking and heating the household, which might cause health issues depending on the energy source. The urban population is more severely affected by air pollution than rural regions with an air pollution of 25 air particulate matter (PM) for urban regions compared to 22 PM in rural districts in 2019 (14, 15).
Investment opportunities introduction
The government of Azerbaijan intends to generate 1500 MW of total renewable energy by 2030, including 440 MW in 2023, 460 MW in 2023-2025, and 600 MW in 2026-2030. Unlocking offshore wind potential, improving bioenergy opportunities and expanding renewable’s infrastructure through public private partnership are targeted by the government (16, 13).
Key bottlenecks introduction
Low utility prices disincentivize renewable energy use and the national grid is not equipped to accommodate the additional load from renewable energy. Limited off-grid developments, out-of-date technology in the sector, low end-user tariffs, lack of skills in the workforce to handle renewables hinder renewable energy developments in the country (17, 18).
Biofuels
Pipeline Opportunity
Waste to Energy Generation
Construct and operate waste to energy plants, generating electricity out of waste from homes, non-hazardous commercial, and industrial waste through thermal waste treatment (grate combustion), and sell the electricity to the national grid while recovering and recycling the bottom ashes for road construction.
Business Case
Market Size and Environment
5% - 10%
3.8 million tonnes of waste generated in Azerbaijan in 2021; nation-wide biomass potential calculated at 900 MW.
In 2021, total waste generation reached 3.8 million tonnes, calculated as 377,7 at a per capita level in Azerbaijan. There are 70 landfills across the country, four of which are located in the Baku region, receiving 70% of the nation's total municipal solid waste (45, 24).
Azerbaijan aims to increase energy production capacity from bioenergy power plants to 50 MW by 2030, the country's total biomass and waste energy potential is estimated at more than 900 MW (53, 19).
Azerbaijan's renewable energy sector is predicted to grow at a CAGR of more than 5% (23).
Indicative Return
5% - 10%
5% - 10%
> 25%
An investor providing equity financing to a waste to energy project in Azerbaijan has estimated a return on investment and internal rate of return in the 5-10% range, and a gross profit margin up to or higher than 25% (49).
Sales of electric energy produced from the Balakhani Waste-To-Energy plant operated by Tamiz Shahar was expected to yield AZN 9-10 million (USD 5.3 - 5.9 million) per year, at the time of the tender agreement, excluding profit from utilizing bottom ash for road construction (48).
Investment Timeframe
Long Term (10+ years)
An investor providing equity financing to projects in the non-oil sectors of Azerbaijan has estimated a long-term payback period of over 10 years based on their feasibility study of a waste-to-energy plant in Azerbaijan (49).
The Balakhani Waste-to-Energy, considered as a Clean Development Mechanism (CDM) project under the Kyoto Agreement is expected to produce revenues over a 8-10 year period for the government of Azerbaijan under the carbon credit scheme (48).
Ticket Size
> USD 10 million
Market Risks & Scale Obstacles
Market - Highly Regulated
Capital - CapEx Intensive
Capital - Limited Investor Interest
Impact Case
Sustainable Development Need
Azerbaijan's national electricity mix currently only includes 1.3% of renewable energy sources. The heavy reliance on oil and gas for energy generation results in the contamination of key air, soil and water resources (3, 33).
In Azerbaijan, the oil and gas sector accounts for 85% of the country's overall exports. Diversifying energy exports by tapping into the country's vast renewable energy potential will help hedge against oil price volatility (8, 9, 47).
Illegal dumping is widespread in both urban and rural areas of Azerbaijan to the extent that the Balakhani landfill is the only sanitary landfill in the country. The dumping of waste causes contamination of water, soil, and air, which poses risks to public health (36).
Gender & Marginalisation
Even though Azerbaijan has achieved 100% access to electricity for the population, the aging status of transmission, generation and distribution networks have resulted in power outages with certain facilities in rural districts failing to provide a reliable source of energy (9).
Women are particularly impacted by frequent power outages and undependable heating systems, as they have a greater share of responsibility in domestic tasks, in case of limited electricity access women can't make use of time saving appliances, and does involved in farm work can't complete tasks including post-harvest processing (9).
Women are also underrepresented in energy-related jobs, comprising only 11.3% of jobs in the electricity, gas, and steam production, and receive a lower renumeration, AZN 614 (USD 361), compared to men earning AZN 790 (USD 464) on average in the sector. Existing education patterns perpetuate the employment gap as only 13% of students in the energy field are female (34, 35, 9).
Expected Development Outcome
The share of renewable energy in the national electricity mix will increase, helping reach the target of 30% by 2030. Air, water and soil contamination will be reduced by the increased use of green energy and reduced reliance on the oil and gas industry (6).
Green energy generation will reduce reliance on the oil and gas sector revenues, while diversifying the country's economy. With less reliance on the conventional oil sector's profit for economic growth, Azerbaijan's economy will be more resilient to external shocks and global price volatility.
Since there will be a value addition to household and industrial waste with the waste-to-energy investments, waste collection and sorting activities will draw investors' attention to the sector. The environment will be protected with increased waste collection activities.
Gender & Marginalisation
Investments in the renewable energy sector can expand employment opportunities for women, who remain underrepresented and receive lower salaries compared to men (9).
Diversification of the energy mix through waste-to-energy investments can help ensure reliable energy to suburban districts that remain vulnerable to energy outages due to outdated energy infrastructure (9).
Utilization of available waste for clean power generation will promote treating waste as a resource, to feed into the incineration heat for power generation, and promote incineration as an environmentally conscious waste disposal solution (26).
Primary SDGs addressed

7.1.2 Proportion of population with primary reliance on clean fuels and technology
Share of renewable energy generation in the final consumption of energy products was 1.3% in 2021 (3).
The 2022-2026 Social and Economic Development Strategy of Azerbaijan aims to increase share of renewable energy systems in total installed capacity to 24% by 2026 in line with the government's 30% target for 2030 (13, 6).

12.a.1 Installed renewable energy-generating capacity in developing countries (in watts per capita)
The capacity of the renewable energy generating power plants in Azerbaijan, including hydro-power plants, was 1304.5 MW (6).
1,500 MW new renewable energy generation capacity planned to be installed by 2030 (6).

13.2.2 Total greenhouse gas emissions per year
Total green house gas emissions reached 53.9 million tons (in units of CO2 equivalent) in 2020 (43)
Commitment to reduce GHG emission by 35% by 2030, and 40% by 2050 (4, 6).
Secondary SDGs addressed



Directly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Indirectly impacted stakeholders
People
Corporates
Public sector
Outcome Risks
Even though waste to energy generation is considered beneficial for the climate as an alternative for landfills while generating electricity, GHG emission from such facilities are larger when compared to other renewable sources (50).
Although lower than the amount of air pollutants emitted from combustion of fossil fuels, poorly fed waste to energy facilities may emit concentrated toxins with potential health risks such as dioxins and heavy metals which may remain problematic in bottom ash (51).
Impact Risks
Outdated gird infrastructure, particularly in suburban districts may create problems in accommodating the additional electricity load from renewable energy, limiting expected impact in transitioning to green energy consumption (9).
The existing tariff system which remains subsidized by the state-budget and low price of natural gas and oil can discourage the use of renewable energy for electricity production unless subsidies are phased out in the long-run (18).
Due to a lack of knowledge and properly trained personnel to operate the technology, there may be a high risk of equipment malfunction resulting in the underperformance of the plants (26).
Informal waste pickers who are involved in waste management risk losing income from the establishment of a systemized waste collection system tied to waste to energy plants.
Impact Classification
What
Utilization of non-hazardous waste to generate clear power will reduce methane emissions from landfills while increasing the share of renewable energy share in the national electricity mix.
Who
The overall population will benefit from access to clean energy and systemized waste management.
Risk
Existing subsidy system and low price of fossil fuel power generation, and the outdated grid infrastructure may limit impact, while informal waste pickers may risk losing livelihoods.
Contribution
In addition to existing investments in renewable energy including wind and solar, waste to energy plants can lead to further reduction of greenhouse gas emissions by replacing electricity otherwise generated by fossil fuel power generation,
How Much
The Balakhani waste to energy plant is estimated to reduce 66,146 tonnes of CO2 over the crediting period of 2012-2022 (26). The plant produced 193.2 million kWh of energy in 2021 (16).
Impact Thesis
Increase the share of renewable energy in the national energy mix, while reducing the volume of wastes disposed in landfills and associated emissions.
Enabling Environment
Policy Environment
Azerbaijan 2030: National Priorities for Social Economic Development, 2021: Outlines five national priorities for socioeconomic development, including the target of a clean environment and a country of green growth which covers efficient energy use and giving preference to new sustainable energy sources (13).
Strategy of socio-economic development of the Republic of Azerbaijan between 2022 – 2026, 2022: Proposed actions to achieve the 24% target of renewable energy systems by 2026 includes the expansion of renewable energy deployment and implementing energy efficiency measures and adopting new green technologies (13).
Strategic Roadmap of on the Development of Utilities Services, 2016: Covers the long-term strategic vision for Azerbaijan's utility services, proposes to achieve operational efficiency in the energy sector, including electricity and heating and diversifying the energy generation portfolio (5).
Financial Environment
Financial incentives: Entrepreneurship Development Fund under the Ministry of Economy provides soft loans for up to AZN 10 million (USD 5.8 million) at a 5% interest rate for eligible projects non-oil industry and innovative technologies. The Azerbaijan Investment Company, offering equity financing at preferential rates targets non-oil industries including renewable energy, and has signed a MOU with a foreign investor on a new waste to energy plant (20, 51).
Fiscal incentives: Investors that engage in industrial districts or in the strategic investments projects determined by the Presidency of Azerbaijan and receive the investment promotion document are exempt from property, land and, 50% of the income tax for 7 years, for industrial park residents' exemption is for 10 years (38, 39).
Regulatory Environment
Law on Utilization of Renewable Sources in the Electricity Production, 2021: Outlines the organizational, economic, and regulatory foundations and support mechanisms for the generation of electricity from renewable resources (27).
Law on Efficient Use of Energy Resources and Energy Efficiency, 2021: Regulates relations in the field of energy production, storage, transmission, distribution, sale, and consumption and establishes the energy efficiency fund (28).
Law on Production and Household Waste No. 514-IG, 1998: Determines state policy regarding the prevention of adverse effect of waste on human health and environment as well as waste management while promoting the reintegration of waste into the economy as secondary raw material (29).
On the Implementation of Special Financing for Investment Projects in Connection with Construction and Infrastructure Facilities, 2016: Demonstrates that private sector projects involved in the production and sale of electricity can be implemented through the Build-Operate-Transfer (BOT) model (30).
Law on Energy, 1998: provides the core principles of national energy regulation and policy implementation, including goals of enabling competitive energy markets, energy infrastructure development, reduction on environmental impact, attracting foreign investments and supporting local energy production (52).
Marketplace Participants
Private Sector
CNIM, Masdar, Azerbaijan Investment Company OJSC (AIC), Tamiz Shahar JSC, Holcim Azerbaijan.
Government
Ministry of Economy, Ministry of Ecology and Natural Resources, Ministry of Energy, Azenergi OJSC, Azerishiq OJSC, Tariff Council, AzAlternativEnerji, Energy Regulatory Agency under the Ministry of Energy, State Agency for Alternative and Renewable Energy Sources (SAARES).
Multilaterals
European Bank for Reconstruction and Development (EBRD), Islamic Development Bank (IsDB), Asian Development Bank (ADB), European Union, International Energy Agency, International Renewable Energy Agency.
Non-Profit
Azerbaijan Entrepreneurs Confederation (ASK), Regional Environmental Centre for the Caucasus (REC Caucasus), American Chamber of Commerce (AmCham), German-Azerbaijani Chamber of Commerce (AHK).
Public-Private Partnership
In 2022, a new law "On Public-Private Partnership" was adopted. Infrastructure Investment Law, including Build Operate Transfer (BOT) model was preferred for the investment agreements between the government and private sector such as CNIM's waste to energy plant (41, 42).
Target Locations

Azerbaijan: Baku
Azerbaijan: Absheron - Khizi
Azerbaijan: Garabagh
Azerbaijan: Ganja - Dashkasan
References
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