ACWA Power inks deal to build wind power project in Azerbaijan

09/01/2020 Argaam

 

Riyadh-based ACWA Power signed an implementation agreement with the Ministry of Energy of Azerbaijan for developing, building and operating a 240 MW wind power project, it said in a statement on Thursday.

 

The power purchase agreement spans over 20 years, it added.

 

The project will bolster the Azerbaijan government’s efforts in diversifying its energy mix through significant reforms.  

 

Paddy Padmanathan, Chief Executive Officer of ACWA Power, said the new investment reinforces the company’s pivotal role in deploying Saudi foreign investment to promote the decarbonisation of the electricity generation sector.

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