Final Stages Reached In Talks For Wind Power Plants In Azerbaijan, Acwa Power VP Says
Date
6/6/2024 12:18:44 AM
(MENAFN- AzerNews)
Nazrin Abdul
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Negotiations for the establishment of offshore and onshore wind
power plants in Azerbaijan are reaching their final stages.
Raad Al Saadi, Vice President and Managing Director of Acwa
Power, highlighted this during a panel discussion on "International
cooperation to ensure energy security and stability" at the 29th
Baku Energy Forum, Azernews reports.
"In addition, discussions on energy storage solutions are
nearing completion. Acwa Power is impressed with Azerbaijan's
simultaneous focus on energy security, transition, and its
political and economic interests," said Al Saadi.
He emphasized the effectiveness of cooperation between Saudi
Arabia and Azerbaijan at both governmental and corporate levels,
noting similarities in their energy strategy approaches.
"The synergy between traditional and renewable energy sources
(RES) in Azerbaijan and Saudi Arabia is crucial for economic
development," Al Saadi added.
He mentioned that Saudi Arabia plans to invest $50 billion in
energy transition to achieve a 50% share of renewable energy
sources (RES) in the energy mix.
"Azerbaijan aims to produce one-third of its electricity from
RES. The projects we are implementing in Azerbaijan are
facilitating this goal. Operating across Azerbaijan, Kazakhstan,
Uzbekistan, and Turkey allows us to efficiently provide technical
support for RES facilities and introduce new technologies to the
region," Al Saadi concluded.
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