Saudi Arabia Urged Green Electricity Supply

It desires to export clean electricity from Azerbaijan to Europe.

Saudi Investment Minister Khalid Al-Falih announced this while co-chairing the 7th meeting of the Joint Commission on Cooperation between Azerbaijan and Saudi Arabia, held in Baku, the capital of Azerbaijan.

He said, "It has been decided that ACWA Power, the Saudi water and electricity utility company, would implement a 240-megawatt energy project in Azerbaijan."  He added, however, that this is not enough. We would like to implement larger energy projects and join the agreement signed a few days ago by Azerbaijan on the export of electricity to Europe.

According to the report, ACWA Power, formerly International Company for Water and Power Projects, is the Kingdom’s largest private sector power and water entity. The minister said that there are wide opportunities for the development of relations between the two countries.

Khalid Al-Falih thanked the president of Azerbaijan, Ilham Aliyev, for his support and for expanding relations between Azerbaijan and Saudi Arabia. He emphasised the opportunities for cooperation between the countries.

The leaders of Azerbaijan, Georgia, Romania, and Hungary signed an agreement on Saturday on an underwater electric cable under the Black Sea to carry green Azeri energy to Europe.

The agreement calls for a 1,000-MW electric cable to be laid beneath the Black Sea from Azerbaijan to Romania, as part of broader European Union efforts to diversify energy resources away from Russia amid the Ukraine conflict, according to the report. 

By Sumita Pawar