Monitoring Desk
RIYADH: The Kingdom of Saudi Arabia has expressed its desire to join the agreement to export green electricity from Azerbaijan to European Countries.
Saudi Investment Minister Khalid Al-Falih announced this while co-chairing the 7th Joint Commission on Cooperation meeting between Azerbaijan and Saudi Arabia, held in Baku, the capital of Azerbaijan.
It has been decided that ACWA Power, the Saudi water and electricity utility company, would implement a 240-megawatt energy project in Azerbaijan, Al-Falih said, Saudi Gazette reported.
“However, this is not enough. We want to implement larger energy projects and join the agreement signed a few days ago by Azerbaijan on the export of electricity to Europe,” he added.
Green electricity supply to Europe
ACWA Power, formerly the International Company for Water and Power Projects, is the Kingdom’s largest private-sector power and water entity. The minister said there are vast opportunities for developing relations between the two countries.
“I thank President of Azerbaijan Ilham Aliyev for his support in expanding relations between Azerbaijan and Saudi Arabia. There are opportunities for cooperation between our countries in many areas, especially in the energy sector,” he emphasized.
Azerbaijan signed an agreement on strategic partnership in green energy development and transmission with three European countries in Bucharest on Dec. 17.
The leaders of Hungary, Azerbaijan, Georgia, and Romania signed an agreement on Saturday on an underwater electric cable under the Black Sea to carry green Azeri energy to Europe.
The agreement involves a 1,100-kilometer electric cable of 1,000 MW under the Black Sea, from Azerbaijan to Romania, as part of broader European Union efforts to divert dependence from Russian energy resources amid the Ukraine war.
