ACWA Power signs implementation agreement to develop a 240 MW wind power project
ACWA Power has signed an implementation agreement with the Ministry of Energy of Azerbaijan for developing, building and operating a 240 MW wind power project. The power purchase agreement (PPA) of the project spans over a period of 20 years on a Build Own Operate (BOO) basis.
The 240 MW project will help in the government’s efforts to diversify Azerbaijan’s energy mix by leveraging the country’s rich renewable energy resources and strengthening energy security, as Azerbaijan is undertaking major reforms to divert its dependence from oil and gas. It is one of the two first independent power projects in Azerbaijan.
Country updates
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January 17, 2020
Masdar to develop the 200 MW solar PV project in Baku
Masdar has signed an agreement with the Ministry of Energy of the Republic of Azerbaijan to design, finance, build and operate a 200 MW solar PV project in Baku. Under the agreement, Masdar will deve...
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November 04, 2019
MOL agrees to acquire 9.57% stake in ACG Oil Field, 8.9% stake in BTC pipeline
MOL Group has entered an agreement with Chevron Global Ventures, Ltd and Chevron BTC Pipeline, Ltd for the acquisition of their non-operated E&P and mid-stream interests in Azerbaijan, including a...
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January 30, 2019
US$4.4 billion financial close for Trans-Adriatic Pipeline
The Trans Adriatic Pipeline (TAP) successfully completed financial close in December 2018, securing EUR3.9 billion (US$4.44 billion) - the largest project finance agreed for a European infrastructure...
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November 12, 2018
Negotiations on the 200 MW offshore wind project in Caspian Sea underway
Negotiations on the development of the 200 MW offshore wind project in Caspian Sea is now underway. Under the State Agency for Alternative and Renewable Energy Sources, Azeralternativenergy...
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October 19, 2018
Azeri President opens 50-MW Yeni Yashma wind park
The 50-MW Yeni Yashma wind park has started operations. President of Azerbaijan assisted to the innauguration cermony of the project. The wind farm is located on 540 hectares (1,334 ac...
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