Azerbaijan-Ukraine Energy Partnership Expands with New Hydropower Project
Ukrainian experts have joined the development of Azerbaijan's first 1,000 MW pumped storage power plant project, opening up new prospects for bilateral energy cooperation.
The Gaze reports this, referring to Ukrinform.
The project was presented during a round table discussion entitled “Azerbaijan-Ukraine: New Opportunities for Partnership in the Field of Pumped Storage Power Plants and Renewable Energy,” organized by the Azerbaijan-Ukraine Energy Association.
The scientific basis for the project was prepared by leading Ukrainian specialists under the guidance of Professor Yuriy Landau, honorary chairman of the association and a world-class scientist.
This project is estimated to cost $1.8 billion and involves the use of the Mingachevir reservoir as a lower basin.
The pumped storage power plant could become an important link for the effective integration of solar and wind energy into Azerbaijan's energy system, ensuring balance and stability of generation.
The initiative also aims to strengthen bilateral strategic cooperation between Ukraine and Azerbaijan. Ukrainian companies, in particular the state-owned holding company Ukrainian Energy Machines, could receive significant export contracts if they participate in the construction.
Landau emphasized that there is a real boom in solar and wind energy around the world, and leading countries are actively building pumped storage power plants to increase the efficiency and stability of their energy systems.
As The Gaze informed earlier, Azerbaijani President Ilham Aliyev has ordered the allocation of funds equivalent to US$2 million to the country's Ministry of Energy for the purpose of providing humanitarian aid to Ukraine.