Saudi Arabia eager to participate in Azerbaijan's electricity export to Europe

Saudi Arabia is eager participate in Azerbaijan's electricity export to Europe, the investment minister of the Kingdom of Saudi Arabia, co-chairman of the joint commission between the two countries, Khalid bin Abdulaziz Al-Falih, in his speech at the 7th session of the Azerbaijan-Saudi Arabia Joint Commission held in Baku, Report informs.

The Saudi minister added that they intend to join the document signed a few days ago:

"As you know, Acwa Power is implementing a 240-megawatt energy project in Azerbaijan. But this is not enough for us. We would like to implement larger energy projects and join the agreement signed by Azerbaijan a few days ago on exporting electricity to Europe."

Last week, Azerbaijan, Georgia, Romania, and Hungary signed an agreement on a strategic partnership in green energy development and transmission in Bucharest. This agreement will lay the foundation for cooperation between the four countries in strengthening national and regional energy security in the Black Sea region, diversifying supply sources, and capitalizing on the potential of renewable energy production in the Caspian Sea. The quadrilateral intergovernmental agreement envisages the laying of an underwater cable between Romania and Azerbaijan through Georgia and the Black Sea to transmit electricity from renewable sources.