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Azernews (2 May 2024)

Nazrin Abdul

In recent years, the economic ties between Azerbaijan and Saudi Arabia have flourished, extending beyond the realm of traditional oil and gas industries. The collaboration between the two nations has expanded into renewable energy, marking a significant milestone in their bilateral relations.

One of the focal points uniting Azerbaijan and Saudi Arabia is their joint commitment to addressing global climate challenges. This commitment takes center stage with Azerbaijan hosting the upcoming COP29 event, underscoring the mutual interest in renewable energy production and the development of sustainable energy sectors.

A key player in this collaboration is "ACWA Power," a leading Saudi Arabian company specializing in renewable energy. Currently, ACWA Power is undertaking a groundbreaking project in Azerbaijan, constructing a 240 MW wind power plant. This initiative stems from a Memorandum of Understanding signed in 2022 between Azerbaijan's Ministry of Energy and ACWA Power, focusing on offshore wind energy cooperation.

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