“This is a very significant day in the life of our country,” Aliyev said at the ceremony. “The Khizi-Absheron Wind Power Plant is now starting operations. I am confident that this 240-megawatt facility will contribute to Azerbaijan’s overall development.”
Aliyev recalled that the foundation stone of the project had been laid in January 2022 and thanked all those involved in its construction, with special praise for Saudi Arabia’s ACWA Power, the project’s investor, News.Az reports, citing the presidential website.
“This is ACWA Power’s first renewable power plant in Azerbaijan, but not the last,” he said. “The company has broader plans, and the Azerbaijani state fully supports them.”
The president also noted that ACWA Power will serve as the investor in Azerbaijan’s first seawater desalination project in the Caspian Sea.
Aliyev praised China’s PowerChina, the project’s main contractor, saying the company would also take part in future Azerbaijani energy projects, including as an investor.
Highlighting the broader modernization of the national energy system, Aliyev said Azerbaijan has made the development of generation capacity and grid infrastructure one of its key priorities over the past two decades.
“Over the past 20 years, our generation capacity has almost tripled,” he said. “Today it stands at around 10,000 megawatts — a historic record.”
He added that Azerbaijan plans to significantly expand renewable generation in the coming years, allowing the country both to meet growing domestic demand and to increase electricity exports.
“In recent years, we have commissioned a 2,000-megawatt conventional power plant in Mingachevir, a 230-megawatt solar power plant, and today this 240-megawatt wind power plant,” Aliyev said. “Three solar plants with a total capacity of 340 megawatts are currently under construction in Jabrayil.”
The president said major renewable projects are planned in Bilasuvar, Neftchala, Nakhchivan, and liberated territories, adding that Azerbaijan’s geography makes renewable energy production viable across nearly all regions.
He stressed the enormous offshore wind potential of the Caspian Sea, citing international estimates that place Azerbaijan’s sector at 157 gigawatts.
“This process will gain broad momentum in Azerbaijan in the coming years,” Aliyev said. “Azerbaijan will become a country with large and highly reliable electricity generation capacity.”
He invited foreign and domestic investors to participate in renewable energy projects and in energy-intensive industries, including artificial intelligence and data centers.
“We have an excellent investment climate,” he said, noting that Azerbaijan has attracted more than $300 billion in foreign investment and maintains low public debt and high foreign exchange reserves.
“Our credit ratings have been upgraded to an investment-grade level with a positive outlook,” he added.
The president also announced the creation of Azerbaijan’s first Battery Energy Storage System, with an initial capacity of 250 megawatts, financed by AzerEnergy, and said more such systems will be needed as renewable capacity expands.
Aliyev said that under signed contracts, Azerbaijan plans to build 6 gigawatts of new wind and solar capacity by 2030 and up to 8 gigawatts by 2032. He also highlighted the construction of nearly 40 small hydropower plants in Karabakh and East Zangezur over the past five years.
Reaffirming Azerbaijan’s commitment to protecting foreign investment, Aliyev said the country remains a reliable partner.
“Not a single word of our contracts has been changed and will not be changed,” he said. “Azerbaijan is a reliable state. Our word is as valuable and legally binding as our signature.”
Concluding his remarks, Aliyev congratulated all those involved in the project and wished the new power plant success.
“This beautiful event once again demonstrates the confidence foreign companies have in Azerbaijan,” he said. “I once again invite investors to invest in Azerbaijan.”
