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Azerbaijan expects a final investment decision on the Caspian-Black Sea-Europe Green Energy Corridor, which will have a transmission capacity of 4 GW, to be approved in 2029, Energy Minister Parviz Shahbazov said at the opening of the Green Energy Corridor: From Feasibility Study to Implementation forum in Baku.
According to Report, citing Azerbaijan’s Ministry of Energy, Shahbazov said a study completed in July confirmed the project’s technical feasibility and economic viability. A key component of the project will be a submarine cable laid across the Black Sea at depths of up to 2,200 meters.
The nearly 3,000-kilometer corridor is expected to be commissioned in stages starting in 2032.
By 2040, green electricity supplies to Europe are projected to reach around 20 billion kWh annually, helping reduce carbon emissions by 3.6 million tons per year.
Source: Geographies of Cooperation | World Grid Project