ACWA Power breaks ground on $300mn wind project in Azerbaijan – Construction Week Online

ACWA Power breaks ground on $300mn wind project in Azerbaijan – Construction Week Online

Developer, investor and operator of power generation, desalinated water and green hydrogen plants, ACWA Power has broken ground on the $300mn (SAR1.125bn) wind project, marking the first and largest foreign investment in Azerbaijan’s renewable power sector.

The project represents the first and largest foreign investment made in Azerbaijan’s renewable energy sector to date and contributes to the country’s target to generate 30% of its energy through renewables. By Q4 2023, the project will contribute an estimated 3.7% of energy to Azerbaijan’s total national grid capacity, powering 300,000 households while offsetting 400,000 tonnes of emissions.

The Azerbaijani Ministry of Energy and ACWA Power held a groundbreaking ceremony for the 240MW wind power plant, following the signing of power purchase, investment and transfer agreements according to an independent power generation project model.