Saudi Arabian company to build large wind farm in Azerbaijan

Energy Minister of Azerbaijan Parviz Shahbazov and Chairman of the Board of Directors of the Saudi company ACWA Power Mohammed Abunayyan signed an agreement on constructing a large wind farm in the republic, Bigasia reported.

The new power generation facility will be located in the Absheron and Khizi regions. Its construction will be one of two pilot projects for Azerbaijan in the field of renewable energy sources. The combined capacity of both should be 440 MW.

Besides, agreements on the purchase and sale of electricity and a document on connection to the distribution network were concluded.

The Azerbaijani government has announced the development of "green" energy as one of the priorities in developing the national economy. It is planned to increase the share of renewable energy sources in the country's generation to 30%. For this, by order of the President of Azerbaijan Ilham Aliyev, seven working groups were created, which included employees of the Ministries of Energy, Economy, Finance, Ministry of Emergency Situations, as well as representatives of the Ministry of Environment, the Ministry of Justice and several other departments.

To recall, Finland will help Azerbaijan to diversify its economy from oil and gas.

As reported, Saudi Arabia calculated the losses from the collapse in oil prices.

Tags: contracts, renewable energy, wind energy, feed-in tariff, foreign affairs, investments, Saudi Arabia, economy

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