Azerbaijan's Energy Ministry and Saudi Arabia's ACWA Power have started the next round of discussions on the Environmental Impact Assessment Document of the joint project on the 240 MW Khizi-Absheron wind power plant.
On the first day of the discussions, employees of ACWA Power and local partner of the company Ecoenergy LLC, as well as 5 Capitals Environmental and Management Consulting provided detailed information about the project. At the same time, a review of the Environmental Impact Assessment document was presented.
The discussions will last four days, with two days each in Khizi and Absheron regions.
It should be noted that in January 2020, the Energy Ministry and ACWA Power signed an Implementation Agreement on the project. In December of the same year Investment Agreement, Power Purchase and Sale Agreement and Transmission Network Connection Agreement were signed.
Azerbaijan and Saudi Arabia are cooperating in different spheres of the economy, especially in renewable energy. In this context, the agreements on the 240 MW wind power plant project were signed between the Ministry of Energy, Azerenergy OJSC and Saudi Arabia's ACWA Power on December 29, 2020. The agreement will strengthen the ties between Saudi Arabia and Azerbaijan, and the 240 MW project will contribute to Azerbaijan’s energy diversification and the use of renewable energy sources.
The trade turnover between Azerbaijan and Saudi Arabia amounted to $13.4 million in 2020. In addition, the trade turnover between the two countries amounted to $16.9 million in the first 11 months of 2021.