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.