Baku:Azerbaijan’s Minister of Energy, Parviz Shahbazov, held a meeting with James Humfrey, the Chief Executive Officer of the UK-based Xlinks company, to discuss potential collaboration on the Caspian-Black Sea-Europe Green Energy Corridor project.
According to Azerbaijan State News Agency, the discussions focused on Xlinks’ possible involvement in the project, including its technical and commercial solutions, financing, and management model. Shahbazov highlighted the significance of international energy interconnections for ensuring energy security, achieving environmental sustainability, and fostering economic growth. He likened these connections to bridges that create new trade opportunities and emphasized their role in bringing countries and regions together, citing the Southern Gas Corridor as an example of a successful project that fosters cooperation and adds economic value.
The meeting also explored the prospect of integrating a fiber-optic connection into the Green Energy Corridor, which could enhance both energy and digital cooperation. Humfrey expressed Xlinks’ interest in supporting project development, making joint investments, and contributing funds during the development phase. He also updated Shahbazov on Xlinks’ technical team and its experience with submarine cable and high-voltage direct current (HVDC) technology providers.
Furthermore, the officials discussed strategies to optimize capital expenditure, reduce implementation timelines, and improve the competitiveness of electricity supplied to European markets. They also reviewed financing options, considering a hybrid model that combines regulated and commercially based components, and examined its compatibility with the European Union’s regulatory framework.