ACWA Power, one of the biggest international investors in renewable energy, plays an important role in the development of green energy in Azerbaijan and Central Asian countries. Since 2020, ACWA Power has been actively implementing wind energy and water supply projects in Azerbaijan, and is also considering opportunities to participate in international green energy corridors connecting the region with Europe.
As part of the 30th Baku Energy Forum, Selim Guven, general director of ACWA Power for Azerbaijan and Türkiye, told Report about the company's strategic priorities, key projects, as well as participation in trans-regional initiatives for the transfer of clean energy.
We present the interview to our readers:
- What specific steps is ACWA Power taking towards the implementation of the Green Energy Corridor project between Central Asia and Europe? In what capacity is the company participating - as an investor or in another role? And is the company interested in negotiations with governments or partners as part of the project?
- ACWA Power is active in Central Asia, especially in Uzbekistan and Azerbaijan. We have significant investments in Uzbekistan and an expanding portfolio in Azerbaijan. We are interested in further development of both onshore and offshore wind and solar projects in Azerbaijan, including in Nakhchivan, and are also exploring new opportunities in Türkiye. We see regional energy interconnections as an additional opportunity to use the region's rich natural resources not only for domestic consumption, but also for export to high-demand markets - be it Europe or other countries interested in sustainable clean energy sources.
For us, such cross-border projects are not only an investment opportunity, but also the most important government initiatives. We closely monitor the development of such projects, are interested in participating and are ready to facilitate their implementation, contributing to the full disclosure of the energy potential of the region.
- What investments does ACWA Power currently have in Azerbaijan? Are there any plans to expand the project portfolio in the country?
- ACWA Power began operating in Azerbaijan in 2020. We cooperate with government agencies to form a sustainable energy portfolio. In 2024, we began construction of a 240 MW wind power plant - this is the first and largest wind energy project in Azerbaijan implemented by a private developer. It will provide electricity to about 300,000 households and will prevent the emission of about 400,000 tons of CO₂ annually. Completion of construction is expected by the end of 2025.
In addition, we were selected to implement a project to desalinate water from the Caspian Sea with a capacity of 300,000 cubic meters per day. In case of successful completion of negotiations and signing of the contract, we are ready to promptly begin construction. The project is scheduled to be implemented by 2028.
We are also actively exploring new directions: from additional wind turbines and battery-based energy storage systems to promising offshore wind projects and interregional energy lines - both towards Türkiye and across the Black Sea to Europe.
- What initiatives is ACWA Power implementing in the field of decarbonization? Are there plans to implement carbon-neutral solutions in Azerbaijan?
- ACWA Power is a green transition company. We are developing projects in the field of solar and wind energy, actively participating in the promotion of decarbonization solutions. Among our priorities is the development of hydrogen energy, especially green hydrogen, which is key for industries where it is difficult to reduce emissions by other methods. In addition, we consider flexible and transition fuels as part of the transition energy architecture. Currently, about 50% of our portfolio comes from carbon-neutral and renewable energy sources. By 2030, we plan to increase this share to 80%.
