Speech by Ilham Aliyev at the groundbreaking ceremony for “Khizi-Absheron” Wind Power Plant

Dear ladies and gentlemen, dear friends.

It is a significant day in the life of our country today. At the Gulustan Palace, we will witness the foundation of a new wind power plant in Azerbaijan being laid. I heartily congratulate you and all the people of Azerbaijan on this occasion.

It is a remarkable event. This station will contribute to Azerbaijan's energy security. The establishment of this station once again shows that the state of Azerbaijani attaches great importance to renewable energy production. About a year ago, the Ministry of Energy of Azerbaijan and Saudi company ACWA Power signed an executive agreement. We decided to build the station, we have been working hard for the past year, and today we are celebrating this wonderful day together. This plant will be the largest power plant in the renewable energy sector in Azerbaijan. Its capacity is 240 megawatts, and, of course, as I said, it will contribute to the energy security of our country and create many jobs. It will also address our plans to save natural gas. Of course, this station will be of great importance in reducing the adverse impacts on the environment.

I am delighted that the company implementing and investing in this large renewable energy project is from brotherly Saudi Arabia. As you know, Saudi Arabia and Azerbaijan have very close, friendly and brotherly relations. We have been working hard to develop these relations since independence. I remember with great pleasure my visits to the Kingdom of Saudi Arabia. My meetings with His Majesty the King and His Majesty the Crown Prince are once again a manifestation of the friendship and brotherhood between us. We are successfully cooperating in many areas. Of course, all the people of Azerbaijan are aware of the political support provided by Saudi Arabia to Azerbaijan during the occupation. Saudi Arabia is one of a handful of countries that did not establish diplomatic relations with Armenia due to the Armenian occupation. It is tremendous moral support for the Azerbaijani people and the Azerbaijani state; it is a sign of brotherhood. The Azerbaijani people appreciate this.

Our political relations are at a very high level. At the same time, we are actively cooperating in various sectors of the economy. Before the pandemic, the number of tourists from Saudi Arabia increased by the year. After the pandemic ends, I hope to see the citizens of Saudi Arabia, our brothers in Azerbaijan, again.

There are excellent prospects in the economic sphere. Of course, we are working together on energy in the OPEC+ format. I can say that establishing the OPEC+ format has played a unique role in the cooperation between Saudi Arabia and Azerbaijan. Along with other countries participating in this format, we have stabilized oil prices.

The investor of this station is ACWA Power, a well-known company with extensive experience in this field. We can talk a lot about the company, but I want to say that it is the largest energy company in the world. According to the information provided to me, the power generation capacity of the stations built by the company is more than 42,000 megawatts. So it would not be too difficult to imagine its proportions, and I am glad that this company is also interested in Azerbaijan.

Of course, the role of our bilateral interstate relations is vital here. However, at the same time, the reforms carried out in Azerbaijan in recent years, including the energy sector, the good investment climate, the successful development of our country, the stability, peace and security – all these factors have played an essential role for every investor. Also, foreign investment is protected in Azerbaijan at the highest level. Foreign investors are well aware that our word is as valuable as our signature. The Contract of the Century signed in this splendid Gulustan Palace in 1994 has been implemented for many years, and not a single word, not even a comma, has been changed in that contract. Our attitude to all other contracts and agreements with major foreign companies is similar. Therefore, tens of billions have been invested in Azerbaijan, and this investment continues. In particular, the global financial crisis, as well as the natural decline in economic activity due to the pandemic – all these are negative factors.

Nevertheless, the brotherly country's company has decided to invest extensively in Azerbaijan, and today we are laying the foundation for a 240-megawatt wind plant to be built in the Khizi district. I must also say that Azerbaijan has been working hard to ensure its energy security for many years since gaining independence. Azerbaijan is one of the few countries in the world that produces both crude oil and natural gas, oil products and electricity to meet domestic demand, and at the same time exports these four products to world markets. Thus, our country's energy security is fully ensured, and the growing exports of natural gas and electricity have a positive impact on the energy security of other countries. But we should also remember that the country is developing fast. According to last year's results, our non-oil sector and non-oil industry have grown by about 20 percent. The country's population is growing, and so is demand. Therefore, of course, we must seriously engage in producing new types of energy. Renewable energy production is one of the main tasks on our agenda on energy. I must also say that negotiations are underway on constructing a large solar power plant in the liberated territories in the Jabrayil district. The power generation potential of this station will be equal to 240 megawatts. I can say that thanks to a thorough evaluation, it has emerged that a total of about 10,000 megawatts of renewable wind and solar electricity can be produced in the liberated areas. Of course, we would like investors and companies from friendly countries to explore these opportunities and start these big projects together with us.

I should also note that Azerbaijan fully meets domestic demand, and at the same time, exports electricity to all neighboring countries. High-voltage power lines connecting us with neighboring countries allow us the opportunity to build new lines if necessary. Because the electricity demand is growing in countries of the region and, at the same time, in Europe, some countries have decided to close nuclear power plants. We are also observing the closure of coal-fired power plants. At the same time, the Green Agenda, which is almost at the forefront of the global agenda, has been approved. In turn, we declared the liberated territories, an area of 10,000 square kilometers, a "green energy" zone. Several hydropower plants have already been built and are operating, and we have specific plans to build solar and wind power plants.

In short, creating this wind farm is a critical and significant project in many ways. It is a remarkable indicator, and it is also a signal for other potential investors to take further steps without wasting time. I must also say that the world's major companies are interested in Azerbaijan's renewable energy potential. At present, the Ministry of Energy of Azerbaijan is in talks with several leading companies of the world, and I repeat, there is a combination of different factors involved. There is a positive opinion about the stability, peace and development of our country in the world, i.e., there are ideas that reflect the truth, the predictability of our policy and at the same time, solid industrial potential, economic independence, energy security and trained personnel. In other words, these are the main factors. These factors are of great importance for any investor.

I am confident that after the opening of this largest renewable energy plant, which is currently being built in our country, and perhaps even before it opens, we will begin to implement other investment projects. As for the opening of this station, I do hope that we will celebrate the opening of this excellent energy project soon together.

I once again heartily congratulate you and all the people of Azerbaijan on this wonderful occasion. As I said, I want to celebrate the opening of this station together soon. Thank you.