Azerbaijan's Energy Ministry, Saudi ACWA Power to sign agreement on wind farm project

28 December 2020 16:30 (UTC+04:00)

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An agreement will be signed between the Azerbaijani Energy Ministry and ACWA Power (Saudi Arabia), as well as between the company and Azerenergy OJSC, on a 240-MW wind farm project on December 29, 2020, Trend reports referring to the ministry.

The use of renewable energy sources was identified by Azerbaijan's president as one of the priority areas for the development of the country's energy sector. Thus, the focus is on the implementation of pilot projects for the construction of a wind farm with a capacity of 240 MW and a 200-MW solar power plant in accordance with agreements signed with ACWA Power and Masdar OJSC (UAE) on January 9 this year.

In order to fulfill the president's relevant order, 7 working groups function, consisting of representatives of the Ministries of Energy, Economy, Finance, Emergency Situations, Ecology, and Natural Resources, Justice, as well as the Committee for Urban Planning and Architecture, the State Service for Property Affairs, the State Tax Service, Central Bank, Azerenergy and Azerishig OJSCs.

Currently, Azerbaijan is taking consistent steps to develop alternative energy. For this purpose, negotiations are underway with foreign companies and investors, including companies from China, UAE, US, and EU.