No plans to ink agreements between Azerbaijan, Masdar, ACWA Power in August

Oil&Gas Materials 20 August 2020 17:34 (UTC +04:00)
No plans to ink agreements between Azerbaijan, Masdar, ACWA Power in August

BAKU, Azerbaijan, Aug. 19

By Nargiz Ismayilova – Trend:

The signing of the documents on renewable energy sources (RES) with companies ACWA Power of Saudi Arabia and Masdar of the UAE is not expected in Azerbaijan in August 2020, Advisor to the Azerbaijani Energy Minister Zamina Aliyeva told Trend.

Earlier, the Azerbaijani energy minister said that the signing of the agreements is scheduled for August this year.

Aliyeva said that the signing of documents is currently discussed with investors.

“The ‘Agreement on purchase and sale of energy’, the ‘Investment agreement’, the 'Agreement on connection to transmission grid' and the ‘Agreement on land lease’ will be signed with Masdar and ACWA Power,” she said.

The use of renewable energy sources was identified by the head of state as one of the priority areas for the development of the energy industry. Thus, the implementation of pilot projects for the construction of a 240-megawatt wind farm and a 200-megawatt solar power plant in line with agreements signed with ACWA Power company of Saudi Arabia and Masdar of the UAE on January 9, 2020, are kept in focus.

For the execution of the order of Azerbaijan’s president, seven working groups, consisting of representatives of the ministries of energy, economy, finance, emergency situations, ecology and natural resources, justice, as well as the Committee for Urban Planning and Architecture, the State Property Service, the Tax Service, the Central Bank of Azerbaijan, Azerenerji OJSC, and Azerishig OJSC, are set up.

Currently, Azerbaijan is taking consistent steps to develop alternative energy. To this end, negotiations are ongoing with foreign companies and investors, including companies from China, the UAE, the US and the EU.


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