ACWA Power expands presence in Azerbaijan through key renewable energy partnerships

ACWA Power expands presence in Azerbaijan through key renewable energy partnerships

- New projects to build Azerbaijan’s clean energy and aid decarbonisation efforts

Riyadh, Saudi Arabia: ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, has announced that four separate agreements have been finalised for the development of new renewable energy in the Republic of Azerbaijan.

In line with ACWA Power’s commitment to lead and enable energy transition underpinned by its robust public-private partnership model, the company has signed key implementation agreements with the Ministry of Energy and cooperation agreement with State Oil Company of Azerbaijan Republic (SOCAR).

Following on from recent collaborative efforts between the two parties for the SAR 1.1 billion 240 MW wind power plant project, ACWA Power’s new MoU with Azerbaijan’s Ministry of Energy entails the development of a battery energy storage system, together with implementation agreements for 1GW and 1.5GW of onshore and offshore wind, respectively. While the cooperation agreement reached with SOCAR will ensure collaboration and exploration in the fields of renewable energy and green hydrogen.

His Excellency Parviz Shahbazov, Minister of Energy of Azerbaijan, said: "Today marks the expansion of our partnership with ACWA Power through wind power projects at a total capacity of 2.5 GW, and the