14:51 - 15.11.2024

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November 15, Fineko/abc.az. Within COP29, the Memorandum of Understanding has been signed between the State Oil Company of the Republic of Azerbaijan (SOCAR), Masdar (UAE) and ACWA Power (Saudi Arabia) on cooperation in production of 3.5 gigawatts of wind power in the Azerbaijani sector of the Caspian Sea.

ABC.AZ reports that the document was signed by SOCAR President Rovshan Najaf, Masdar CEO Mohammed Jamil Al Ramahi and ACWA Power CEO Marco Arcelli.

As part of the planned project, the first offshore wind farms will be built in Azerbaijan. This document serves to expand partnership between the parties on the project of construction of the 500 MW solar power plant in Nakhchivan.