The company has signed key implementation agreements with the Ministry of Energy and a cooperation agreement with State Oil Company of Azerbaijan Republic (SOCAR).
The deals with the ministry entails the development of a battery energy storage system, together with implementation agreements for 1GW and 1.5GW of onshore and offshore wind, respectively.
The cooperation agreement reached with SOCAR will ensure collaboration and exploration in the fields of renewable energy and green hydrogen.
The agreements are aimed at enhancing Azerbaijan’s national electricity grid by integrating additional renewable energy sources, as well as positioning the country to broaden its export market and ensuring the population benefits from battery storage and offshore wind capabilities.
“Today marks the expansion of our partnership with ACWA Power through wind power projects at a total capacity of 2.5GW, and the creation of battery energy storage systems for the first time in our country,” said Minister of Energy of Azerbaijan Parviz Shahbazov.