News

Project

Staff Reporter

, Saudi Arabia

Published:

10 days ago

Photo by Markus Spiske via Unsplash.

ACWA Power and SOCAR partner to advance RE projects in Azerbaijan

The Saudi-based firm is developing a 240 MW wind power plant in Azerbaijan.

Saudi Arabia’s ACWA Power signed a cooperation agreement with the State Oil Company of the Azerbaijan Republic (SOCAR) to boost the development of renewable energy projects.

Under the partnership, ACWA and SOCAR will study the production of green hydrogen to support the decarbonisation of SOCAR’s downstream assets focusing first on the Azerbaijan-based firm’s Carbamide fertiliser facility.

The facility will shift to more value-added low carbon products that use renewable energy.

The two companies will also partner for feasibility studies to assess the potential production and sale of green fertilisers.

ALSO READ: ACWA Power inks $3b debt financing for 3,600 MW CCGT projects

ACWA Power said it will lead in developing renewable energy and green hydrogen production under the partnership, noting that it is constructing the country’s and the Absheron-Khizi region’s largest 240-megawatt wind power plant with an investment cost of $345m.

ACWA and SOCA signed an initial cooperation deal in February 2023, strengthened by the additional cooperation agreement in April 2023 focusing on the “low-carbon/green fertiliser” project.

Follow the link for more news on

ACWA Power

Also Read

India to dominate pipeline projects in Asia until 2028

Voltalia begins construction of 126 MW Uzbek solar plant

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Japan reduces fossil fuel generation by 8% in 2023

This is driven by the increasing renewables capacity and declining power demand.

Power Utility

10 hours ago

Global bioenergy electricity production rises 3.1% to record 697 TWh

China, Brazil, and Japan are the top bioenergy producers.

Power Utility

11 hours ago

Nuclear power deemed Australia's most expensive energy source

It costs six times more than renewable projects.

IPP

11 hours ago

AboitizPower finalises 15.6% stake acquisition in STEAG State Power

This brings the company’s total equity interest to 85%.

Power Utility

11 hours ago

Exclusives

Pressures mount for less desirable energy insurance placements in the region

Industry experts eye offshore investments as most attractive, yet more expensive.

Power Utility

Will the government pay for coal power exit in Vietnam?

The country’s coal power phase-out strategy sees renewables accounting for 67.7%–71.5% of the energy mix by 2050.

IPP

Japanese utility firms into serious business of reselling LNG surplus

Declining local demand for LNG directs Japanese companies to the South and Southeast Asian markets.

Power Utility

India removes licence requirement to build transmission lines for bulk consumers

The rule applies to those with at least 25 MW of load for inter-state connection and at least 10 MW for intra-state.

Event News

Thailand at the forefront of ASEAN's energy transition: A look ahead to Future Energy Asia

Co-Written / Partner

Co-hosted by industry leaders and supported by government officials, the Future Energy Asia Exhibition and Summit aims to accelerate the region's journey towards net-zero emissions.

Co-Written / Partner Celebrate your exceptional energy and sustainability initiatives with Asian Power

Co-Written / Partner Abu Dhabi Sustainable Water Solutions clinches two wins at Asian Water Awards

Technology VR and AR training are vital for the renewable energy workforce

Co-Written / Partner Thailand at the forefront of ASEAN's energy transition: A look ahead to Future Energy Asia

Co-hosted by industry leaders and supported by government officials, the Future Energy Asia Exhibition and Summit aims to accelerate the region's journey towards net-zero emissions.