ACWA Power strengthens ties with Azerbaijan
Saudi utility ACWA Power signs a preliminary agreement with Azerbaijan to explore the Eurasian country’s offshore wind potential. Azerbaijan develops its renewable energies This agreement follows the inauguration of the 240 MW Khizi-Absheron wind farm, which is expected to generate one billion kilowatt-hours per year. The new project is expected to reduce carbon dioxide emissions […]
| Companies | ACWA Power |
|---|---|
| Sector | Énergie Hydrogène, Énergie Éolienne, Offshore, Hydrogène vert |
| Theme | Investissements & Transactions, Partenariats commerciaux |
Saudi utility ACWA Power signs a preliminary agreement with Azerbaijan to explore the Eurasian country’s offshore wind potential.
Azerbaijan develops its renewable energies
This agreement follows the inauguration of the 240 MW Khizi-Absheron wind farm, which is expected to generate one billion kilowatt-hours per year.
The new project is expected to reduce carbon dioxide emissions by 400,000 tonnes a year.
The Saudi company signed a 20-year power purchase agreement with Azerbaijan in January 2020.
Today, the company’s international reach is in line with Saudi Arabia’s objectives.
Saudi Arabia’s energy objectives
The kingdom aims to meet 50% of its national electricity needs from its own resources by 2030.
It is committed to 0 net emissions by 2060 and has strong ambitions in hydrogen.
This includes the world’s largest green hydrogen project in the futuristic city of Neom.
Azerbaijan also aims to supply 30% of its electricity from clean sources by 2030.
