Baku:The First International Forum on the Green Energy Corridor, titled “The Green Energy Corridor From Feasibility Study to Implementation,” has commenced in Baku, focusing on investment and partnership opportunities for the Caspian-Black Sea-Europe project.
According to Azerbaijan State News Agency, the Forum aims to transition the Green Energy Corridor project from the feasibility study stage to investment and practical implementation. Discussions are centered around the project’s business model, financing structure, and commercial prospects. The event has gathered representatives from Azerbaijani government institutions, partner countries, the European Union, international financial institutions, and major energy companies.
Minister of Energy Parviz Shahbazov highlighted the strategic importance of the corridor for regional energy security and the green energy transition. The project, initiated under a Strategic Partnership Agreement in Bucharest in 2022, was confirmed as technically feasible and economically attractive. The minister emphasized Azerbaijan’s role in transforming into a regional hub for green energy under President Ilham Aliyev’s policy. The project’s inclusion in the draft Ten-Year Network Development Plan 2026 and efforts to obtain Project of Mutual Interest status are enhancing its investment prospects.
The corridor, spanning approximately 3,000 kilometers, is set to be commissioned in phases starting in 2032 with a transmission capacity reaching 4 GW. It will facilitate the development of 8 GW of renewable energy capacity and enable the annual transmission of 20 billion kilowatt-hours of electricity to Europe from 2040. The project aims to reduce carbon emissions by up to 3.6 million tonnes. Advanced technological solutions are being considered for laying submarine cables in the Black Sea. The proposed hybrid business model includes long-term power purchase agreements and private equity participation to ensure commercial viability.
Minister Shahbazov stated that Azerbaijan’s strategic location, experience in energy projects, and strong international relations provide a foundation for the project’s success. He expressed confidence that the Forum will contribute to forming new partnerships and advancing the Green Energy Corridor towards the final investment decision planned for 2029.