Acwa Power's Abid Malik plans $5B investment in Azerbaijan

During the panel discussions on "Sustainable Energy: Green Energy Potential in the Caspian Region" at the Baku Energy Forum, Abid Malik, Geo Head Central Asia at Acwa Power, announced plans for a significant investment of approximately $5 billion in Azerbaijan, Azernews reports.

Abid Malik highlighted that the investment will predominantly focus on renewable energy initiatives. He emphasized, "Acwa Power" has established a longstanding presence in Azerbaijan.

“As "Acwa Power", we have been operating in Azerbaijan for quite some time. The country has enormous potential in renewable energy. So, in addition to being a politically stable region, taking into account the advantages of transit routes and corridors, Azerbaijan is very convenient and is a target country for us. At the same time, we maintain cooperation with SOCAR. Developing green energy in partnership with Azerbaijan is one of our key targets. There are several steps that need to be fulfilled," he added.