BAKU, Azerbaijan, May 3. The Ministry of Energy of Azerbaijan and ACWA Power have signed an executive agreement on a 200 MW Battery Energy Storage System (BESS) project and a framework agreement on a 200 MW onshore wind power project, the statement of the Azerbaijani Ministry of Energy said, Trend reports.
The ceremony was held in the presence of Energy Minister Parviz Shahbazov and Prince Abdulaziz bin Salman Al Saud, Minister of Energy of the Kingdom of Saudi Arabia, who is on a visit to Azerbaijan.
During the meeting preceding the signing, the sides noted that Azerbaijan and the Kingdom of Saudi Arabia have brotherly relations, and the development of friendly relations and energy cooperation between the countries' leaders is of mutual importance.
The importance of implementing the Energy Cooperation Agreement and the activity of the Joint Technical Committee in the multifaceted development of energy relations between the countries in a bilateral format were also discussed during the meeting. Particularly, the important role of the Green Energy Partnership was emphasized, which strengthens energy cooperation on a long-term basis and ensures solidarity between Azerbaijan and the Kingdom of Saudi Arabia in the fight against climate change and a just energy transition.
The sides discussed interactions within the framework of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29). The meeting reviewed the current state of cooperation with ACWA Power on the development of wind power projects with a total capacity of 2.5 GW onshore and offshore.
Additionally, the importance of accelerating the implementation of renewable energy projects was noted. Support was expressed for the participation of "ACWA Power" in renewable energy projects in Azerbaijan, the development of cooperation in the areas of integration of renewable energy sources, production, and transmission of electricity, as well as energy efficiency through the exchange of knowledge and experience.
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