ACWA Power to develop renewable power, green hydrogen in Azerbaijan
SUMMARY
The company has signed implementation agreements with Azerbaijan’s ministry of energy and cooperation agreement with the State Oil Company of Azerbaijan Republic. [Image: ACWA Power]
By Shardul SharmaSaudi Arabia’s ACWA Power has signed four separate agreements for the development of new renewable energy and green hydrogen in Azerbaijan.
The company has signed implementation agreements with Azerbaijan’s ministry of energy and cooperation agreement with the State Oil Company of Azerbaijan Republic (SOCAR).
ACWA Power’s new MoU with Azerbaijan’s ministry of energy entails the development of a battery energy storage system, together with implementation agreements for 1GW and 1.5GW of onshore and offshore wind, respectively. While the cooperation agreement reached with SOCAR will ensure collaboration and exploration in the fields of renewable energy and green hydrogen, ACWA Power said.
ACWA Power is currently implementing a 240 MW wind farm project in Azerbaijan, which is expected to produce around 1bn kilowatt-hours/year of electricity. The plant will reduce carbon emissions by more than 400,000 metric tons/year upon completion.
Last month, ACWA Power announced its plans to develop a green hydrogen facility and a green ammonia pilot project in Uzbekistan.
