A number of agreements on the development of green energy have been reached in Baku

Baku/04.02.23/Turan: The Ministry of Energy of Azerbaijan and ACWA Power (Saudi Arabia) signed a number of important documents. An “Executive contract for the implementation of a wind power project with a capacity of up to 1.5 GW offshore”, a “Memorandum of Understanding on the establishment of a wind power plant with a capacity of 1 GW on land” and a “Memorandum of Understanding on the development of energy storage systems in Azerbaijan” were signed.

“From today, our partnership with ACWA Power is expanding with projects to create wind farms with a total capacity of 2.5 GW and, for the first time in our country, energy storage systems,” Azerbaijani Energy Minister Parviz Shahbazov said.

According to him, these projects are another contribution to the implementation of the state policy for the development of Azerbaijan as a country of "green growth" and a supplier of "green energy".

“Our joint activities with ACWA Power are important not only to provide new capacity for the planned green energy corridor from the Caspian Sea to Europe, but also to reduce carbon emissions, accelerate the energy transition,” Shahbazov said. Currently, ACWA Power is cooperating on the construction of the Khizi-Absheron wind farm with a capacity of 240 MW.

On February 3, the first ministerial meeting was held in Baku to implement the "Agreement on Strategic Partnership in the Development and Supply of Green Energy between the governments of Azerbaijan, Georgia, Hungary and Romania."

“At the meeting, for the coordinated implementation of issues related to the transfer of green energy from the Caspian Sea to Europe, an agreement was reached on the establishment of a Working Group. At the end of the meeting, the final protocol was signed,” the ministry emphasizes.

On December 17, 2022, Azerbaijan, Georgia, Romania and Hungary signed an agreement on strategic partnership, which includes, among other things, the construction of an energy bridge from the Caucasus region to Europe. The talk is about the construction of a Black Sea Energy submarine electric cable with a capacity of 1000 MW and a length of 1195 km. The cable will be designed to supply green electricity produced in Azerbaijan through Georgia and the Black Sea to Romania for onward transport to Hungary and the rest of Europe.

The project is currently at the stage of developing a feasibility study, which is scheduled to be completed in September 2023. Construction of the cable will take 3-4 years.

The European Commission plans to provide 2.3 billion euros to lay the cable, which will be the longest in the world.

In the morning on February 3, speaking about projects in the field of renewable energy, the President of Azerbaijan expressed hope for fruitful cooperation with leading international financial institutions in the implementation of projects in the field of renewable energy sources (RES).

The President noted that Azerbaijan has a significant renewable energy potential: 157 GW of wind energy in the Azerbaijani sector of the Caspian Sea, 27 GW of wind and solar energy on land and 10 GW of wind and solar energy in the territories liberated during the Patriotic War of 2020 (Karabakh and Vostochny Zangezur).

“Agreements have already been reached on the creation in the country of additional generating capacities due to renewable energy in the amount of up to 25 gigawatts (GW) with three large energy companies - Masdar (UAE, 10 GW), Fortescue Future Industries (FFI, Australia, 12 GW) and ACWA Power (Saudi Arabia, 2.5 GW),” he stressed.

Aliyev, speaking about the project of laying an energy bridge to Europe in accordance with the “Agreement on strategic partnership in the field of development and transmission of green energy between the governments of Azerbaijan, Georgia, Romania and Hungary”, signed on December 17, 2022 in Bucharest, expressed confidence that Azerbaijan will expand its geography supplies and will not be limited to the supply of "green" energy to Romania and Hungary.--0--