Baku, January 8, AZERTAC

The official opening ceremony of the 240 MW “Khizi-Absheron” Wind Power Plant, constructed by Saudi Arabia's ACWA Power, was held on January 8 at the Gulustan Palace in Baku.

President of the Republic of Azerbaijan Ilham Aliyev delivered a speech at the event.

Speech by President Ilham Aliyev

- Ladies and gentlemen,

Dear guests,

My very warm greetings to all of you. It is a significant day in the life of our country today. We celebrate the commissioning of the “Khizi-Absheron” Wind Power Plant. This is a milestone occasion. The plant that will enhance the energy capacity of our country is commencing its operation. I am confident that the 240-megawatt plant will contribute to the overall development of our country.

I remember quite vividly that exactly four years ago, in January 2022, we laid the foundation of this plant in this very hall. Extensive work has been carried out over these years, and today we are celebrating this wonderful occasion together.

First of all, I would like to express my gratitude to all the people and companies that have contributed to the construction of this plant, first and foremost to the investor “ACWA Power” and its managers. This is the first renewable power plant built by “ACWA Power” in Azerbaijan, but not the last one. The company has bigger plans, and the Government of Azerbaijan fully supports these plans. I should also note that “ACWA Power” is one of the leading companies in the world in this field. It is also interested in implementing new projects in cooperation with Azerbaijani state agencies. In particular, the company, as an investor, will also implement the Caspian Sea desalination project, the first for our country.

I should also mention the efforts of PowerChina, which was involved in the construction of this station as the general contractor. This time, the company participated in the project as a contractor, but it will also take part in other projects, including as an investor. I am confident that all the plans this company has in Azerbaijan will be successfully implemented.

Of course, I should also acknowledge Azerbaijan’s energy professionals. Because the commissioning of new generation capacities in our country in recent years has been both a very complex and responsible process. In addition, the integration of large volumes of renewable energy into our overall energy system, of course, requires enormous professionalism and substantial funds. Considering that the construction of renewable energy plants in Azerbaijan will be very widespread in the coming years, the performance of Azerbaijani energy professionals must always be at a high level.

Here we also see a very successful example of international cooperation. I should also note that from now on, more and more foreign investors will be engaged in the development of renewable energy. However, Azerbaijani companies have also begun to take interest in this issue, and the construction of several solar power plants has already begun.

In general, I can say that the upgrade, modernization, and development of Azerbaijan’s energy system have been identified as one of our top priorities in recent years. Over the past 20 years, our energy system—namely generation capacities, large-scale substations, and transmission lines—has been completely renovated.

Over the past 20 years, the generation capacities created in our country have increased by about three times compared to the entire previous period. Today, our generation capacity stands at approximately 10,000 megawatts, which can rightly be described as a historic record. Given that many new renewable energy generation capacities will be commissioned in the coming years, this figure will certainly increase and will enable us both to meet growing domestic demand adequately and to export electricity in larger volumes.

I should also note that when we celebrated the opening of a new power plant in Mingachevir last year, we were once again convinced that these two processes in Azerbaijan, namely traditional generation capacities and renewable generation capacities, should be carried out in parallel. Only then can we achieve the desired result. The generation capacity of the conventional power plant commissioned in Mingachevir last year is approximately 2,000 megawatts, and today Azerbaijan feels very comfortable in terms of energy supply and energy security. A 230-megawatt solar power plant was put into operation recently. Today, a 240-megawatt wind power plant is under construction, and three solar power plants are currently under construction in the liberated territories, in Jabrayil district. The total capacity of these three plants is 340 megawatts.

Today, renewable energy sources are being developed in various parts of our country. The next large plants are to be opened in Bilasuvar, Neftchala, Nakhchivan, and also in the liberated territories. So far, they have been opened in Garadagh district, and today in Khizi and Absheron districts. In other words, the geographical location of Azerbaijan is such that it is possible to produce renewable energy in any region. I am not even talking about the potential of the Caspian Sea. According to international estimates, the wind potential in the Azerbaijan sector of the Caspian Sea stands at 157 gigawatts. In other words, this process will gain momentum in Azerbaijan in the coming years. Azerbaijan will become a country with a reliable and major electricity generation capacity in the region. I have no doubt about that.

Therefore, I invite foreign investors to invest in this sector, as well as in other areas that require large amounts of electricity. In particular, I encourage investment in artificial intelligence, the establishment of data centers, and other energy-intensive industries. This invitation, of course, also applies to Azerbaijani companies.

Our country has an excellent investment climate. We have succeeded in attracting more than USD 300 billion in foreign investment to Azerbaijan. Today, our country’s financial position is very strong, and I have recently spoken at length about this issue. I should note that the reforms we have implemented in this area and the results we have achieved are recognized by the world’s leading rating agencies. It is no coincidence that Azerbaijan’s credit rating has been further upgraded, reaching investment grade with a positive outlook.

Our foreign debt is very low, amounting to just over 6 percent of our gross domestic product. Our foreign exchange reserves exceed our foreign debt by 16–17 times, placing Azerbaijan among the leading countries in the world by this measure.

In other words, all these and other factors give reason to say that investment in Azerbaijan will bring benefits and profits. Today, Azerbaijan is a favorable destination for investment. There is political, economic, and social stability in our country. For five years, our country has officially been living in peace, and large-scale construction work is underway in Azerbaijan. Therefore, as evidenced by today’s ceremony, we can also see the confidence of foreign companies in us, and this confidence is fully justified.

Regarding future plans, given that our renewable energy potential will increase significantly, we must develop the infrastructure to store this energy. For the first time in our history, we are establishing a Battery Energy Storage System, or BESS, in Azerbaijan. The first project will have a capacity of 250 megawatts and is being implemented by “Azerenerji,” self-financed. However, as our renewable potential continues to grow, the number of such battery energy storage systems will need to increase, and I invite foreign investors to participate in this process.

As for generation capacities, it is sufficient to note that based on the signed contracts, wind and solar power plants with a total capacity of 6 gigawatts will be built by 2030, and overall, 8 gigawatts by 2032. If we add the potential of hydroelectric power plants, our capacity will, of course, grow further. Over the past five years, we have built about 40 small hydroelectric power plants using public funds in Garabagh and East Zangezur. Today, their total potential exceeds 300 megawatts.

A map of potential hydroelectric power stations in the liberated territories has also been drawn up, and in that region alone, we will build small hydroelectric power stations with a capacity of about 500, perhaps even 600 megawatts. Almost half of it is already in place, and the entire country, including the liberated territories, is connected to a single grid, ensuring the sending and receiving of energy flows in any direction.

Today, by celebrating this remarkable event, we are both summarizing the work done and, most importantly, sharing our views on future plans. Let me repeat that the creation of renewable energy in Azerbaijan is a large-scale project implemented by foreign investors. To date, 100 million USD have been invested in these projects. I once again appreciate the activities of both foreign and local investors for this decision and encourage them again to invest in Azerbaijan. The state of Azerbaijan always protects foreign investment. Many of our oil contracts have been implemented for years, and not a single paragraph, not a single article, not even a single word in the adopted decisions and contracts has ever been—and will ever be—changed. This stability is a crucial factor in attracting foreign investors to our country. Azerbaijan is a reliable state, and our word is as trustworthy and binding as our signature.

When we look at developments in the energy sector as a whole, it is clear that energy security is increasingly coming to the fore. We have been working in this direction for many years. Our exports of oil, gas, oil products, electricity, petrochemical products, and fertilizers provide many countries with opportunities to ensure their energy security today. Azerbaijan is establishing itself as a responsible and reliable partner and has earned a strong reputation on the global stage.

Dear friends, I would like to congratulate you once again on this wonderful occasion and wish the station every success in its operation. Thank you!

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Addressing the event, Nasser Al-Qahtani, Assistant Minister of Energy for Electricity Affairs of the Kingdom of Saudi Arabia, said:

- Your Excellency, President of the Republic of Azerbaijan, Mr. Ilham Aliyev,

Distinguished guests, ladies and gentlemen,

It is an honor to be with you today, in the presence of His Excellency President Ilham Aliyev, to inaugurate the “Khizi-Absheron” Wind Power Plant.

This flagship renewable energy project reflects the strength and depth of the partnership between the Kingdom of Saudi Arabia and the Republic of Azerbaijan. The Kingdom views this partnership as a long-term strategic relationship, particularly in the field of energy. Our cooperation extends well beyond individual projects toward broader, system-level collaboration. Existing framework agreements outline a long-term development pathway for additional wind capacity, including both onshore and offshore projects, supported by battery energy storage systems to enhance grid flexibility and resilience. This demonstrates our shared commitment to forward planning and the development of resilient energy systems. Beyond power generation, our cooperation also covers electricity transmission, grid integration, and capacity building. The Kingdom is working closely with Azerbaijan to exchange expertise in system planning, renewable energy integration, and transmission development.

We also see significant opportunities for collaboration in regional interconnection initiatives, including the “green corridor,” which can enhance regional energy security and enable the export of clean energy to wider markets.

We also welcome the progress made on future initiatives, including plans for a 200-megawatt wind expansion project with integrated battery storage, as well as the ongoing assessment of offshore wind potential in the Caspian Sea, in cooperation with regional and international partners. These initiatives reflect our shared ambition to position Azerbaijan as a regional hub for clean energy, supported by strong partnerships and robust technical foundations.

Your Excellency, the “Khizi-Absheron” Wind Power Plant sends a clear message that Saudi Arabia and Azerbaijan are partners not only in delivering today’s energy projects but also in shaping the future of sustainable energy systems. It embodies mutual trust, strong institutions, and a shared commitment to economic development, energy security, and environmental responsibility.

On behalf of the Government of the Kingdom of Saudi Arabia, I extend our sincere appreciation to the Government of the Republic of Azerbaijan, to our partners, and to all those who have contributed to the success of this project. We look forward to continuing this cooperation and advancing our partnership to even greater levels in the years ahead. Thank you.

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Then, Ambassador of the People’s Republic of China to Azerbaijan Lu Mei said:

- Your Excellency, Honorable President Ilham Aliyev,

Distinguished guests, ladies and gentlemen, good morning, salam.

It's a great pleasure to attend this official inauguration of the “Khizi-Absheron” Wind Power Plant project. This is a remarkable achievement and a shining example of successful collaboration and cooperation between China, Azerbaijan and Saudi Arabia in the renewable energy sector. On behalf of the Chinese Embassy in Azerbaijan, I'd like to express my warm congratulations on this significant project, as well as my heartfelt gratitude to the government of Azerbaijan and all the friends who have supported this important project. And my gratitude also goes to the dedicated working teams from ACWA of Saudi Arabia, PowerChina who have worked tirelessly and overcome a lot of challenges and achieved the success together. The green transition and sustainable development are priorities for all of us. China and Azerbaijan have signed an MOU on cooperation on green and low carbon development. And China greatly appreciates Azerbaijan's successful hosting of COP29 and its ongoing commitment to advancing the green development. It also illustrates the significant role that Azerbaijan plays in the global green development.

China and Azerbaijan are good friends and partners. Fruitful cooperation across various fields over the years has given a strong boost to our respective development and revitalization and has brought tangible benefits to our peoples. President Aliyev visited China twice last year and signed with President Xi Jinping the joint statement on establishing comprehensive strategic partnership between Azerbaijan and China, opening a new historical chapter on China-Azerbaijan relations. Under the joint leadership of President Xi Jinping and President Aliyev, China-Azerbaijan comprehensive strategic partnership has been developing fast with political mutual trust enhancing and pragmatic cooperation reaching historically high levels. The scale of bilateral economic and trade cooperation continues to expand and investment cooperation includes areas of infrastructure, renewable energy, digital innovation, and automobile manufacturing, etc. Our high-quality Belt and Road cooperation is advancing. The China-Europe railway express through trans-Caspian corridor continues to accelerate its capacity this year, which is significant enhancing the connectivity of Azerbaijan and the region. As President Aliyev mentioned in his annual press interview, Chinese companies have been actively engaged in developing renewable energy in Azerbaijan. Azerbaijan chose Chinese companies as strategic partners because of their professionalism, quality, and speed of execution of the project. This project is the largest wind power project in Azerbaijan and the Caucasus region. After operation, the project is expected to benefit over 300,000 households and reduce carbon emissions by 400,000 tons. It will effectively support sustainable development of Azerbaijan and the region.

Green development has always been a defining feature of Chinese modernization. As we start the first year of our 15th Five-Year Plan this year, China is committed to a path of high quality development that prioritize green development. China’s economy will continue to drive global growth and provide more stability and certainty to world economy. China's continuous breakthroughs in science and technology innovation will provide much needed new driving force for global economy. And most importantly, China's technology innovation is inclusive and open-sourced. So, we are willing to share the opportunity of China's development with all countries around the world, including Azerbaijan and Saudi Arabia.

Last but not least, as this year, 2026 marks Chinese Year of Horse. And horse symbolize bravery and success in Chinese culture. I've seen Karabakh horses in Azerbaijan. And we have an old saying in China: "When the horse arrives, success comes." So I wish everyone a successful year in the Year of Horse.

Thank you.

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Mohammad Abunayyan, Founder and Chairman of the Board of Directors of ACWA Power, said:

- Your Excellency,

I am very grateful and very honored to stand before you and to attend this very important ceremony under your leadership.

Mr. President, you know, Azerbaijan is very blessed to have you, your leadership, your vision, and an ability to execute that serves as the best example of how to reform, how to develop, and how to ensure a happier and better life for the people.

And everything that you have done in the past, everything that you have been able to accomplish and deliver for this great nation, is something from which many countries can learn. Among your many achievements is the area of green energy. I will also go back, with your permission, Mr. President, to your great opening remarks at COP29. When everyone else in the world was only talking about certain strategies and viewpoints, you explained to the whole world the best and only way to ensure a better future for everyone: to have the best energy combination. This includes conventional energy, which, as you said, is a great resource with which God has blessed Azerbaijan.

But it also includes green energy, another great blessing and resource for Azerbaijan. As you described in your speech at the opening of this ceremony, these great renewable resources of 150 gigawatts will be exported to the whole world from right here in Azerbaijan. Mr. President, the vision and the ecosystem you have established in your country, as you mentioned, have made it very easy and successful for every investor coming to Azerbaijan.

Your vision, your government, your policies, and your friendly relationship with every country in the world welcome all investors and ensure their success. That is the reason, as you have mentioned, that all of these past investments have come to Azerbaijan, and more will follow. Under your great leadership, you have made it a simple decision for anyone in the world to invest in Azerbaijan, because this great nation, its leaders, and its generous people make success easy to achieve. Mr. President, with your vision that you have launched the green energy and how you have been able to put this project in place, whether it is solar, or renewable, or the storage, as you have mentioned the future of green hydrogen and many other sources of green energy, I remain very confident that Azerbaijan, as a great exporter of oil and gas, will also become a major exporter of green energy.

Saudi Arabia under the great leadership of our king and our crown prince, our prime minister, they had a similar vision when it comes to green energy and how Saudi Arabia, being the biggest oil producer in the world, is also the biggest supporter of having green energy. We are very lucky in both countries, Mr. President, to have great leadership, because I think the lesson for the whole world today is all about leadership. That is what makes nations and people truly happy, allows countries to develop, and ensures this great level of success. Mr. President, we have come here to invest in our first project.

Despite all these challenges, including the Ukraine war and other obstacles, we have seen under your great leadership, Mr. President, how you made it possible for us to overcome them. Your government has worked hand-in-hand with us to achieve this success, which we are celebrating together because there has been a seamless partnership and working relationship. I really have to thank the Ministry of Energy and Azernerji, who have been key partners in making this happen. Under your great leadership, Mr. President, I also have to thank our partners, PowerChina, our lenders EBRD and the OPEC Fund, and others who really made this a reality.

I would like to thank the Azerbaijani companies who have also made a significant contribution to the supply chain, subcontracting, and other services they provided for us. We, as ACWA Power, under our great leader, His Royal Highness Prince Abdulaziz Bin Salman, our Minister of Energy, are committed to your vision and its implementation, Mr. President, to being your trusted partner forever. We are committed to delivering all the technology, capacity, and everything that will be needed and required for Azerbaijan’s strategy under your leadership, both inside and outside the country.

We have no limitations, no caps, and no constraints because we have great leaders from both countries. We are lucky, Mr. President, to be in Azerbaijan and lucky that you have trusted us to give us more opportunities and support – not only in green energy but also for the desalination plant, as you mentioned in your opening remarks. That will be the first landmark project in the Caspian Sea, and it will be a very unique project that many countries and nations will learn from.

Thanks to your vision, Mr. President, you are thinking about water security in a way few others do, despite all the water resources you have and are blessed with. You love your country and your people, and you are always ahead of everything. That is the reason you are thinking about challenges that many people overlook until a crisis occurs, such as a drought. Your vision is what made Azerbaijan what it is today.

Thanks to the founder – God bless him and grant him a place in heaven – but your leadership has been the best example in this region and to the world that when you want success, you must have a great leader who loves his country and his people. We are grateful and thankful for this opportunity to be with you at this event. Thanks to your support, Mr. President, we will have many successful events celebrating the partnership and success of Saudi Arabia and Azerbaijan.

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A short video presentation on the "Khizi-Absheron" Wind Power Plant project was then screened for the attendees.

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President of the Republic of Azerbaijan Ilham Aliyev and Mohammad Abunayyan, Founder and Chairman of the Board of Directors of ACWA Power, officially commissioned the 240 MW “Khizi-Absheron” Wind Power Plant.

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It should be noted that nearly 37 hectares of land have been allocated for renewable energy purposes for the construction of the power plant, including 14.2 hectares in the Absheron district and 22.6 hectares in the Khizi district. Under the project, a total of 37 wind turbines, each with a capacity of 6.5 MW, have been installed—12 in Absheron and 25 in Khizi—along with measurement and monitoring stations and bird protection systems.

Approximately USD 340 million in foreign investment has been attracted for the implementation of the project. The plant’s annual electricity generation is expected to reach around 1 billion kilowatt-hours, which will allow for savings of 220 million cubic meters of natural gas and prevent the emission of more than 400,000 tons of carbon dioxide into the atmosphere each year. The project’s main contractor is PowerChina HuaDong Engineering Corporation Limited, a subsidiary of China’s PowerChina Group.

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The event concluded with a family photo.