17:12 - 5.06.2024

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June 5, Fineko/abc.az. Arab company Acwa Power is planning to invest about $5 bn in renewable energy projects in Azerbaijan.

ABC.AZ reports that Acwa Power’s regional director Abid Malek said about this during his speech at the Baku Energy Forum within the Baku Energy Week.

He added that the company intends to develop renewable energy sources at sea in Azerbaijan.

Malek also noted that Azerbaijan has both great potential for renewable energy sources and favorable investment climate, as well as prospects for exporting electricity to Europe. In this context, the project of green energy corridor Caspian-Black Sea-Europe is very important.