Azerbaijan Targets 2029 Investment Decision for Green Energy Corridor
Azerbaijan's Ministry of Energy presented a feasibility study for a green energy corridor to Europe, targeting a final investment decision by 2029.
The Ministry of Energy of Azerbaijan presented a feasibility study for the Caspian-Black Sea-Europe Green Energy Corridor during a forum in Baku. Conducted by the consulting firm CESI, the study confirms the technical and economic viability of a project spanning Azerbaijan, Georgia, Romania, and Hungary. The corridor will feature a 4 GW transmission capacity and a submarine cable laid across the Black Sea at depths of 2,200 meters.
Energy Minister Parviz Shahbazov announced that the government targets a final investment decision by 2029, with commissioning expected to begin in stages starting in 2032. By 2040, the corridor is projected to supply 20 billion kWh of green electricity annually to Europe, which would reduce carbon emissions by 3.6 million tons per year.
In parallel, Minister Shahbazov met with World Bank Practice Manager Stephanie Gilbert to discuss the AZURE project. This initiative aims to integrate 2 GW of renewable energy into the national grid via the Navahi power hub. The project is being implemented in two phases, with the second phase funded by the World Bank to install 500-kilovolt equipment and transmission lines, while Azerenerji provides internal resources for the first phase.
