BAKU, Azerbaijan, November 19. ACWA Power, a global leader in renewable energy, is focusing on Azerbaijan and Central Asia as key regions for expanding its renewable energy projects, CEO Marco Arcelli told Trend in an exclusive interview.
He highlighted these areas' enormous potential, especially for the development of wind and solar energy.
"In Azerbaijan, we are already working on a large-scale onshore wind project with a capacity of 140 MW, which will power approximately 400,000 houses. This project recently reached financial close, and construction has begun, with the first turbine being erected this week," he said.
Arcelli also highlighted the company’s second major initiative, launched at COP29, in collaboration with SOCAR and Masdar.
"The potential of this partnership is 3.5 gigawatts of capacity, aligning with Azerbaijan’s ambitious plans to export renewable energy to Europe," he added.
"This is still in the early stages of the project. In the coming months, we will begin wind measurements. A joint team will assess the power production potential and associated costs. From there, we can move forward with the formal development phase," Arcelli explained.
He stressed that Azerbaijan, having successfully transported gas to Europe through the Southern Gas Corridor, now has a unique opportunity to position itself as a renewable energy exporter.
Arcelli also underscored the importance of Central Asia in the global energy transition, noting ACWA Power’s substantial investments in the region.
"The company is committing $15 billion to renewable energy projects in Uzbekistan, including solar, wind, and battery storage. ACWA Power is already generating electricity from its 200 MW Riverside Solar PV project and is exploring further opportunities in wind, solar, and combined-cycle energy solutions. We are also working to develop a green hydrogen plant in Uzbekistan, which will transform wind energy into green hydrogen for local petrochemical companies," he said.
Additionally, ACWA Power is expanding its presence in Kazakhstan, with plans to develop one gigawatt of wind energy capacity and explore more renewable energy projects. The company’s strategy for the region includes a diverse portfolio of renewable solutions, such as solar, wind, battery storage, and green hydrogen.
"In Uzbekistan, we are already constructing a green hydrogen plant powered by wind energy from another wind farm we're building. The green hydrogen will be sold to local fertilizer and petrochemical companies. This visionary project aims to decarbonize these commodities, allowing them to be exported to Europe free of the CO2 taxes. Another important aspect is battery storage—renewable energy cannot thrive without it. We are already making significant progress with battery storage in Uzbekistan and aim to deploy similar solutions in other countries where we operate," Arcelli explained.
Marco Arcelli concluded by emphasizing that technological innovation is central to ACWA Power’s approach. The company leads in energy transition technologies, with deep expertise in wind, solar, and battery storage projects. ACWA Power is also advancing green hydrogen initiatives, turning renewable energy into a versatile resource for industries like petrochemicals and refineries. This focus on innovative energy solutions is integral to the company’s broader strategy of decarbonizing industries and reducing global carbon emissions.
