Saudi Minister of Investment Khaled Al-Falih announced Monday that ACWA Power and many of the Kingdom’s companies are keen to participate in renewable energy projects in Azerbaijan and to export part of the production to Europe through the planned Black Sea cable.
The EU agreed on Saturday to support financing a brand-new undersea power cable to bring energy from Azerbaijan to Romania and Hungary.
Al-Falih told the Azerbaijani Minister of Finance, Samir Sharifov, in the capital, Baku: “We were impressed and pleased with Azerbaijan’s signing two days ago of the Green Corridor Agreement for the supply of renewable energy from Azerbaijan to the European market.” Making sure that his country “wants to be” is essential to this success story.
ACWA Power is already building a 240MW wind farm in Azerbaijan. “This is a small project for the company, and they are looking forward to doing more,” Al-Falih said.
The governments of the Republics of Azerbaijan, Georgia, Romania, and Hungary signed a strategic partnership agreement in the field of green energy development and transmission on December 17 in Bucharest.
