Investment decision on Caspian-Black Sea-Europe green energy corridor expected in 2029

A final investment decision (FID) on a planned 4-gigawatt green energy corridor linking the Caspian region with Europe is expected in 2029, with phased commissioning due to begin in 2032, Azerbaijan’s Deputy Energy Minister Elnur Soltanov said.

The Caspian-Black Sea-Europe Green Energy Corridor has already moved beyond the feasibility study stage, Soltanov told a German-Azerbaijani conference in Baku.

Azerbaijan plans to export renewable electricity to European markets through several routes, including the Caspian-Black Sea-Europe corridor, a Central Asia-Azerbaijan corridor and connections via Georgia and Nakhchivan towards Turkey and Europe, he said.

Soltanov said Azerbaijan’s offshore wind potential in the Caspian Sea was estimated at 157 GW, while the country plans to develop 8 GW of wind and solar projects by 2032.

He also invited German companies to participate in a Green Energy Corridor Investment and Partnership Forum in Baku on Oct. 22 and explore opportunities to join the project as investors and strategic partners.
 

N.Tebrizli