Azerbaijan signs an agreement with Arab company on wind power in the sea


January 13, Fineko/ As part of the foundation laying ceremony of the 240 MW Khizi-Absheron Wind Farm, the Memorandum of Understanding on cooperation in the field of offshore wind energy has been signed between the Ministry of Energy of Azerbaijan and Arabian company ACWA Power.

ABC.AZ was informed at the Ministry of Energy that the document was signed by Deputy Energy Minister Elnur Soltanov and ACWA Power’s Chief Investment Officer Clive Turton.

The Memo envisages the definition of the basic principles for cooperation in the field of wind energy in the sea, assessment of the potential for profitable investments in renewable energy projects in Azerbaijan and the creation of appropriate conditions.