17 Jan ACWA Power starts construction of $300 million wind project in Azerbaijan
Saudi Arabia’s ACWA Power and Azerbaijan’s Ministry of Energy have broken ground at a US$300 million wind power plant located 45 km Northwest of the central Asian nation’s capital, Baku.
The 240MW facility will contribute to Azerbaijan’s target of generating 30% of its energy through renewables by 2030 once it becomes operational by the fourth quarter of 2023.
It will account for around 3.7% the country’s total national grid capacity, while offsetting 400,000 tonnes of emissions in a country which largely relies on natural gas to meet its energy needs.
The ground-breaking ceremony was attended by officials and executives including the Saudi Minister of Energy Prince Abdulaziz bin Salman, Azerbaijan President and Minister of Energy Ilham Aliyev and Parviz Shahbazov respectively, and Mohammad Abunayyan, chairman of ACWA.
“The wind project reflects the strategic partnership between Saudi Arabia and Azerbaijan in various fields, especially the energy sector,” Prince Abdulaziz said. “In addition to the two countries’ long-term diplomatic and economic relations, cooperation between them has been strengthened in recent years as Azerbaijan became a member of Opec+.”
ACWA also signed a preliminary agreement with Azerbaijan’s Ministry of Energy for an offshore wind project at the ground-breaking ceremony.
In September, Saudi Arabia announced plans to deploy 50% of its investments in renewable and sustainable power sources. A month later, Crown Prince Mohammed bin Salman inaugurated the Middle East Green Initiative summit, a programme that aims to contribute to clean fuel solutions in the region.