Saudi and Azerbaijan clinch $300mln renewable energy projects

Saudi and Azerbaijan clinch $300mln renewable energy projects

“Saudi Arabia is delighted to be a partner in the future growth and development of Azerbaijan through helping it on its renewable energy journey. I am proud to say that the project has been made possible through Saudi expertise and capabilities,” he said.“ACWA Power is a Saudi national champion in energy, and it will be leveraging its experience, and its track record in successful renewable projects, to help Azerbaijan deliver this strategically important development,” he added.HIGHLIGHTS• The collaboration between Saudi Arabia and Azerbaijan is a further example of the long-standing diplomatic and economic relationship between the two countries, Saudi energy minister says.• ACWA Power is a Saudi national champion in energy, and it will be leveraging its experience, and its track record in successful renewable projects, to help Azerbaijan deliver this strategically important development, he says.ACWA, which is 50 percent owned by the Public Investment Fund, is one of the main agencies for the Kingdom's initiatives in domestic and global renewable energy, and high-tech water desalination processes.Its chairman, Mohammed Abunayyan, said that the agreements were a “milestone and a strong step on the road toward full realization of the potential renewable energy in Azerbaijan.”Prince Abdul Aziz praised Azerbaijan for its