2024-05-06 04:01:13
The Ministry of Energy of Azerbaijan and ACWA Power signed an Agreement on the implementation of a 200 MW battery energy storage system (BESS) project and a Framework Agreement on a 200 MW onshore wind power project.
Day.Az reported this on Friday with reference to a press release from the Ministry of Energy.
The signing ceremony took place in the presence of the Minister of Energy Parviz Shahbazov and the Minister of Energy of the Kingdom of Saudi Arabia, Prince Abdulaziz bin Salman Al-Saud, who is on a visit to our Azerbaijan.
At the meeting preceding the signing, the parties noted that there are fraternal relations between Azerbaijan and the Kingdom of Saudi Arabia, and mutual importance is attached to the development of friendly relations and energy cooperation between the leaders of the countries.
During the meeting in Baku, the importance of implementing the Energy Cooperation Agreement and the activities of the Joint Technical Committee in the multifaceted development of energy relations between countries in a bilateral format was also discussed. In particular, the important role of the green energy partnership was emphasized, which strengthens energy cooperation on a long-term basis and ensures the solidarity of Azerbaijan and the Kingdom of Saudi Arabia in the fight against climate change and a just energy transition.
The parties 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 energy projects with a total capacity of 2.5 GW on land and at sea.
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, electricity production and transmission, as well as energy efficiency through the exchange of knowledge and experience.
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