Italy's Ansaldo Energia to help Azerbaijan attract investments to renewables

Fri 21 Feb 2020 07:43 GMT | 11:43 Local Time

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Italian power turbine manufacturer Ansaldo Energia signed two agreements to explore a variety of power generation projects in the Azerbaijani Republic in eastern Europe, according to Report.

Power Engineering reports that the two memorandums of understanding (MOU) are centered around potentially assisting Azerbaijan with its energy development and transition programs. The deals can cover both conventional and renewable energy.

The first memorandum involves electricity provider JSC Azerenerji and allows Ansaldo Energia to submit a proposal for a 10-year service contract for two of the nation's combined cycle power plants. It also creates a close collaboration framework for an agreement on the construction of the 1,000-MW Yashma CCGT power plant.

Ansaldo would provide engineering, procurement, and construction services under that latter part of the agreement.

"Energy transition is a strategic goal for the Republic of Azerbaijan, which is encouraging investments in the renewable energy sector," Ansaldo Energia CEO Guiseppe Marino said in a statement. "With the signing of these agreements, Ansaldo Energia proposes itself as a system integrator to allow proper management of renewable energy sources within the energy mix."

The second memorandum, signed with the Azerbaijani Ministry of Energy, provides for the analysis of the energy potential and the creation of suitable conditions for investments in sustainable and renewable energy projects in the Republic of Azerbaijan.

The memos were signed in Rome.

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