The MoU for the wind project was signed in March 2019/ACWA Power
by Kudakwashe MuzoriwaSaudi-based ACWA Power has signed a 20 years power purchase agreement (PPA) with the Ministry of Energy of Azerbaijan to develop, build and operate a 240 MW wind power project.
Paddy Padmanathan, the Chief Executive Officer of ACWA Power, said, “We are pleased to sign this implementation agreement with the Government of Azerbaijan, which expands our geographic footprint of operations into this culturally rich and economically vibrant country straddling Europe and Asia.”
“ACWA Power’s entry into the Azerbaijani market confirms our strong belief in the development of public private partnerships in the country’s power sector,” said Rajit Nanda, the Chief Investment Officer of ACWA Power.
MOST READ
BUSINESS
Fed rate cuts add pressure on Saudi banksBUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Dubai’s W Motors seeks funds to go electricBUSINESS
HSBC considering exiting from TurkeyBUSINESS
Zimbabwe turns to UAE to sell a stake in...BUSINESS
ADIA plans to sell a $2 billion stake in...BUSINESS
Amanat considers stake in VPS HealthcareBUSINESS
ECI, HSBC partner to support UAE businessesBUSINESS
National Bank of Oman to exit from EgyptBUSINESS
Salt Bae backers seek a partner and a $1...BUSINESS
Oman plans to launch new regional airline
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
