ACWA Power Deploys 240 MW Wind Farm in Azerbaijan for $337.9 Million
Saudi developer ACWA Power is installing its first wind project in Azerbaijan. The Khizi-Absheron plant, comprising 37 turbines, is expected to power over 300,000 households and reach full capacity by late 2025.
| Countries | Arabie Saoudite |
|---|---|
| Companies | EBRD, ACWA Power |
| Sector | Énergie Éolienne |
| Theme | Investissements & Transactions |
ACWA Power is developing the Khizi-Absheron wind farm, a 240 MW plant spread across the Absheron and Khizi districts, 45 kilometers northwest of Baku. The project, structured as an Independent Power Project (IPP), represents according to the company the first foreign direct investment of this scale in Azerbaijan’s renewable energy sector. Total investment reaches $337.9 million, including $238 million in debt financing closed in November 2024.
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