A meeting was held at the Ministry of Energy between the Minister of Energy Parviz Shahbazov and the delegation led by the Minister of Energy of the Kingdom of Saudi Arabia, Prince Abdulaziz bin Salman Al-Saud, who is on a visit to our country.
From the ministry Publika.az, it was noted with satisfaction that there are fraternal relations between Azerbaijan and the Kingdom of Saudi Arabia and mutual importance is attached to the development of friendly relations and energy cooperation between the leaders of the countries. The importance of the implementation of the Cooperation Agreement in the field of energy and the activity of the Joint Technical Committee in the multifaceted development of energy relations between our countries in a bilateral format was discussed. In particular, the important role of the “green energy” partnership, which strengthens energy cooperation on a long-term basis, and ensures the solidarity of the Kingdom of Azerbaijan and Saudi Arabia in the fight against climate change and fair energy transition, was emphasized. Within the framework of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), discussions were held on cooperation in order to achieve success.
At the meeting, the current state of cooperation with “ACWA Power” company on the development of wind energy projects with a total capacity of 2.5 GW on land and sea was reviewed. The importance of accelerating the implementation of renewable energy projects was noted. Support was expressed for the participation of “ACWA Power” company in renewable energy projects in Azerbaijan, the development of cooperation in the fields of integration of renewable energy sources, production and transmission of electricity, and energy efficiency through the exchange of knowledge and experience. They also discussed issues of joint cooperation and investment opportunities between SOCAR and Saudi Arabian companies in the fields of oil refining, supply of petrochemical products, low-emission fuel and technologies.
At the end of the meeting, the Protocol of the third meeting of the Joint Technical Committee between the Energy Ministries of both countries was signed. Also, the Implementation Agreement on the 200 MW Battery Energy Storage System (BESS) project and the Framework Agreement on the 200 MW onshore wind energy project were signed between the Ministry of Energy and ACWA Power.
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