Acwa Power signs contract for Azerbaijan wind farm
Saudi Arabia’s Acwa Power has signed an implementation agreement for a 240MW wind power project in Azerbaijan. The Saudi developer has signed a power purchase agreement (PPA) to deliver power from the wind farm for a period of 20 years under a build-own-operate (BOO) contact
Saudi Arabia’s Acwa Power has signed an implementation agreement for a 240MW wind power project in Azerbaijan.
The Saudi developer has signed a power purchase agreement (PPA) to deliver power from the wind farm for a period of 20 years under a build-own-operate (BOO) contact.
Acwa Power signed an initial memorandum of understanding (MoU) for the project in March 2019.
The project is part of the Azerbaijani government’s plans to diversify the country’s energy resources and develop significant renewable energy capacity.
The project is also part of Baku’s plans to delegate responsibility to the private sector to finance and develop utilities infrastructure, with the Acwa Power project one of the country’s first two independent power producer (IPP) projects.
Acwa Power is the Middle East’s largest utilities developer, with investment in 31.2GW of power assets and 5.3 million cubic metre a day of desalination plants.
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