Arabian companies to invest about US$ 400 mln. in Azerbaijan
  • ECONOMY

  • 11:49 19 February 2020

Arabian companies to invest about US$ 400 mln. in Azerbaijan

The "ACWA Power" Company of the Saudi Arabia Kingdom and the "Masdar" Company of the United Arab Emirates will make investment in the amount of about US$ 400 mln. in the framework of the pilot projects that will be implemented in the area of renewable energy in Azerbaijan, Elnur Soltanov, Deputy Minister of Energy of Azerbaijan told journalists, ONA reports.

He said the realization of the mentioned projects will take about two years and will be implemented in a phased manner.

Remind that on January 9 this year the ceremony of signing of agreements about implementation of the pilot projects in renewable energy was held between Azerbaijan’s Energy Ministry and "ACWA Power" and "Masdar" companies.

Emil Ismayilov

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