ACWA Power is delighted to be part of Azerbaijan’s green energy development journey in the country and will continue to support Azerbaijan on its green transition path, Clive Turton, Chief Investment Officer of ACWA Power, said at a conference within the Baku Energy Week, Report informs.
He said that the company will help reduce carbon dioxide emissions, use renewable energy sources in industry, and reduce dependence on fossil fuels in Azerbaijan.
Turton noted that natural resources give Azerbaijan the opportunity to successfully develop in this sector.
At the beginning of the year, as part of the groundbreaking ceremony for the 240 MW Khizi-Absheron wind farm, a Memorandum of Understanding on cooperation in the field of offshore wind energy was signed between the Ministry of Energy and ACWA Power of Saudi Arabia. The document was signed by Deputy Energy Minister Elnur Soltanov and ACWA Power Investment Director Clive Turton.
ACWA Power has invested about $300 million in Azerbaijan - the company's largest investment outside of Saudi Arabia.