Baku:The city is hosting the first international forum dedicated to the “Green Energy Corridor From Feasibility Study to Implementation,” focusing on investment and partnership opportunities for the “Caspian-Black Sea-Europe Green Energy Corridor” project, as announced by the Ministry of Energy to APA-Economics.
According to Azeri-Press news agency, the forum seeks to accelerate the transition of the project from the feasibility study stage to investment and practical implementation. It aims to discuss its business model, financing structure, and commercial prospects with potential partners, contributing to preparations for the final investment decision scheduled for 2029.
The event sees participation from representatives of Azerbaijani government institutions, partner countries, the European Union, international financial institutions, and various energy sector stakeholders. Notable attendees include the World Bank, European Investment Bank, European Bank for Reconstruction and Development, Asian Development Bank, and numerous international companies such as Siemens Energy and Hitachi Energy.
Energy Minister Parviz Shahbazov emphasized the strategic importance of the project for regional energy security and the green transition. He noted that the project has confirmed its technical feasibility and economic attractiveness and aligns with Azerbaijan’s policy to become a regional hub for green energy.
The approximately 3,000-kilometer-long corridor is expected to be commissioned in stages starting from 2032, with a transmission capacity of 4 GW. The project plans to develop at least 8 GW of renewable energy capacity in the region, transmit around 20 billion kilowatt-hours of electricity annually to Europe by 2040, and reduce carbon emissions by up to 3.6 million tons.
Advanced technological solutions for laying a submarine cable at depths of up to 2,200 meters in the Black Sea were emphasized, and a hybrid business model combining regulated and commercial components is being considered for sustainability.
The minister concluded by stating the forum’s goal of transforming the Green Energy Corridor into a regional infrastructure project with a sustainable financing structure and attractive investment conditions, highlighting Azerbaijan’s strategic position and experience in international energy projects.