Saudi Arabia-based ACWA Power aims to increase the share of renewable energy projects in its portfolio to 80% by 2030, while growing the total number of projects to 250, Selim Guven, CEO of ACWA Power for Azerbaijan and Türkiye, said during the Baku Energy Forum, according to Report.
"Today, we are one of the few global companies equipped with the tools to drive the green transition. Currently, we manage 101 projects valued at $107 billion across 14 countries, primarily in developing markets and the Global South. We are actively expanding our presence in renewable energy: nearly 48% of the approximately 80 GW of installed capacity under our management is renewable. Our goal is to increase this share to nearly 80% by 2030 and grow our portfolio to 250 projects worth $250 billion," Guven stated.
He emphasized that over 21 years of operation, ACWA Power has aligned its energy transition efforts closely with global climate initiatives.
Guven also highlighted that 95% of the workforce involved in constructing the wind farm in Azerbaijan consists of local specialists.