Azerbaijani President Ilham Aliyev officially launched the 240 MW Khizi-Absheron Wind Power Plant at the Gulustan Palace in Baku on Thursday, delivering a speech at the ceremony.

Azerbaijan’s President Ilham Aliyev on Monday received Mohammad Abunayyan, the Founder and Chairman of the Board of Directors of the Kingdom of Saudi Arabia’s ACWA Power.

Azerbaijan’s Minister of Economy Mikayil Jabbarov held a meeting with CEO of Saudi Arabia's ACWA Power Marco Arcelli.

SOCAR (State Oil Company of the Republic of Azerbaijan), Masdar from the UAE, and ACWA Power of Saudi Arabia have signed a memorandum of understanding to jointly develop 3.5 gigawatts (GW) of offshore wind power projects in the Azerbaijan section of the Caspian Sea.

Saudi Arabia’s ACWA Power has announced $238 million in financing for the Absheron-Khizi Wind Farm, a 240MW project in Azerbaijan.

ACWA Power – a developer, investor, and operator of power generation and desalinated water plants – has signed up as the Energy & Water Partner for COP29, highlighting the company’s commitment to sustainable practices in the renewable energy space, News.Az reports.

Azerbaijan possesses great potential for offshore wind energy development, Executive Vice President, Regional Director Portfolio Middle East Asia at ACWA Power Abid Malik said on Wednesday.

The State Oil Company of Azerbaijan Republic (SOCAR) has outlined its plan to transition from being solely an oil and gas company to becoming an energy company by 2035, which includes active participation in renewable energy projects and the process of decarbonization, aiming to establish a portfolio of low-carbon initiatives, SOCAR Vice President Afgan Isayev said at the Enhancing Ambition, Enabling Action: COP29 Sustainable Business Forum, News.az reports.