Cost of electricity sale by Arab companies to Azerbaijan revealed

Masdar (UAE) and ACWA Power (Saudi Arabia) companies have agreed with the Azerbaijani government on the sale price of electricity that they will produce in Azerbaijan, Report informs referring to the government sources.

The prices are close to wholesale prices for electricity in Azerbaijan (6 qepiks).

Each kilowatt of wind power produced by ACWA Power will be sold for 5.5 qepiks, while solar energy produced by Masdar will be sold to Azerbaijan for 5.7 cents per kilowatt.

The agreed prices include value added tax (VAT).

The Masdar solar power plant has a capacity of 230 MW, and the ACWA Power wind farm has a capacity of 240 MW. The total investment value of both projects is about $500 million, of which about $300 million accounts for the wind power plant and about $200 million for the solar power plant.