Initial cost of energy projects signed between Azerbaijan and Arabs announced - EXCLUSIVE

The supposed initial cost of renewable energy projects signed between Azerbaijan's Energy Ministry and Saudi Arabian ACWA Power and UAE's Masdar companies is $400 million, Report informs.

According to the information, the 200 MW - solar power plant, which will be built by Masdar company costs $150 million, 240 MW-wind power station, which will be built by ACWA Power, is supposed to cost $250-260 million.

Advisor to Energy Minister Zamina Aliyeva told Report that these figures might change: "These are initial costs. They may change depending on the plot of lands, measuring potential, prices of equipment, transport costs, and several factors. However, no great changes are expected."

On January 9, Energy Ministry and Saudi Arabian ACWA Power and UAE's Masdar companies signed Execution Agreements on the implementation of pilot projects on renewable energy.