BAKU, Azerbaijan, September 22. ACWA Power has signed an agreement to develop a major desalination plant in Azerbaijan, the first of its kind in the region, the company’s CEO Marco Arcelli told Trend.
Speaking on the sidelines of the 1st Azerbaijan International Investment Forum in Baku, Arcelli pointed out that the project will be implemented as a public-private partnership over the next 25 years.
“This is not only about constructing a plant, but also about bringing in technology, new ideas, and ensuring continuous operation and technological upgrades,” Arcelli noted. He added that ACWA Power is also investing in renewable energy in Azerbaijan, with the 240 MW Khizi-Absheron wind power plant set to come online by the end of the year. In total, the company plans to invest $750 million, aimed at making the economy more competitive, sustainable, and less dependent on oil and gas, while attracting new industries from tourism to manufacturing.
The CEO highlighted ACWA Power’s cooperation with Azerbaijan’s Ministry of Energy on Caspian offshore projects, as well as with SOCAR and Masdar. He said renewable projects are also being developed in Nakhchivan, not only to meet domestic demand but also to export electricity to Europe, where demand is high.
“We believe these projects will be competitive, and we are working hard to make them a reality. While no final decision has been made yet, we will continue discussions with Azerbaijan’s energy minister,” Arcelli added.