At present, it is impossible to attract investment and remain competitive without business transformation, Uygar Durgunay, Executive Managing Director of Acwa, said at the Technovation Forum in Baku under the theme Resilience and Energy Transformation, Report informs.
Durgunay said everyone understands that complexity requires cooperation among many stakeholders: "Business transformation has become a necessity. It is no longer a future goal but today's reality. Governments demand green energy and decarbonization, while energy demand continues to rise. No stakeholder can carry out a complex project alone. Investors bring capital, risk management expertise, and know-how. Industry provides technology and execution capacity, while governments set direction, create regulatory environments, and ensure transparency. Without perfect harmony among these stakeholders, value creation will not occur. Cooperation is always built on trust. In today's conditions, the long-term success of complex landmark projects is only possible through collaboration and trust among these key stakeholders."
The director emphasized that stakeholders now seek not only independent solutions but also integrated platforms: "Our company offers green energy, green hydrogen, desalinated water, as well as conventional power generation capacities. Acwa has a portfolio exceeding 100 gigawatts, more than 50% of which comes from renewable sources. We are also one of the world's largest desalination companies, with a daily capacity of 9.7 million cubic meters. In Azerbaijan, we own and operate a 240-megawatt wind power plant in Khizi and Absheron, and we are expanding in the Caspian region. These figures do not reflect the full reality, but they are significant. This represents about 3% of total grid capacity, producing more than 1 billion kilowatt-hours of energy annually."