Saudi Arabia's ACWA Power on 2nd March announced the signing of 4 clean energy agreements with Azerbaijan’s Ministry of Energy and State Oil Company of Azerbaijan Republic (SOCAR) that include plans for the development of 2.5 GW of offshore and onshore wind in Azerbaijan.

The agreements build on the 240 MW wind farm project that ACWA Power is presently installing in Azerbaijan.

They include 2 implementation agreements for 1 GW and 1.5 GW of onshore and offshore wind, respectively, as well as a MoU for the development of a battery energy storage system that would be the 1st in the country.

In addition, ACWA Power has signed a cooperation agreement with SOCAR for partnering in the areas of renewable energy and green hydrogen.

“Our collaboration with ACWA Power is key to reducing carbon emissions, accelerating the energy transition, as well as ensuring new capacities for the planned green energy corridor from the Caspian to Europe,” said Azerbaijan’s energy minister Parviz Shahbazov.

SOCAR also recently signed renewable energy agreements with Abu Dhabi Future Energy Company, better known as Masdar.