Saudi Arabia wants to participate in energy megaprojects in Azerbaijan

Baku/12/19/12/Turan: Saudi Arabia's Minister of Investment Khalid bin Abdulaziz Al-Falih, who is on a visit to Azerbaijan, visited the Jabrayil and Aghdam regions on the eve. He got acquainted with the restoration of the liberated territories and the possibility of investments in these territories.

During the meeting with the head of state Ilham Aliyev, the Saudi Minister expressed his country's readiness to invest heavily in the energy system of Azerbaijan and participate in the restoration of the liberated territories.

Official Baku highly appreciates the position of Saudi Arabia, which does not establish diplomatic relations with Armenia due to the Karabakh conflict.

After this meeting, two agreements on the export of electricity to Europe were signed between Azerbaijan and Saudi Arabia.

Speaking at a meeting of the Joint Commission on Cooperation between Azerbaijan and Saudi Arabia on December 19, he said that the Saudi company "ACWA Power" is already implementing an energy project with a capacity of 240 megawatts in Azerbaijan.

"However, we would like to implement larger energy projects and join the agreement signed by Azerbaijan a few days ago on the export of electricity to Europe," he said.

Thus, "ACWA Power" is currently investing $300 million in the construction of a wind farm; however, Saudi Arabia can implement power plant projects in Azerbaijan much more powerful, al-Falih said at a meeting of the intergovernmental commission.

In particular, the Saudis are interested in building an offshore wind farm in Azerbaijan with a capacity of 500 MW. -02D-