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Arab companies to invest more than $ 300 mln. in Azerbaijan

10 January 2020 12:53 (UTC +04:00)

ACWA Power company of the Kingdom of Saudi Arabia and Masdar company of the United Arab Emirates will invest more than $ 300 mln. within the framework of renewable energy pilot projects to be implemented in Azerbaijan, the head of the press service of the Ministry of Energy of Azerbaijan, Advisor Zamina Aliyeva told APA-Economics.

Commenting on the implementation of the projects in terms of time Z. Aliyeva has not disclosed the exact date by noting that these are long term projects.

“Currently, these are pilot projects, after pilot projects auctions will be held. When auctions will be held these companies may again participate in other projects too,” Z. Aliyeva added.