Azerbaijan, Georgia, Turkey and Bulgaria agree to create green energy corridor

BAKU. April 4 (Interfax) - Azerbaijan, Georgia, Turkey and Bulgaria have agreed to create a green energy corridor, Azerbaijan's Energy Ministry reported.

"On Friday, the energy ministries of Azerbaijan, Georgia, Turkey and Bulgaria signed a memorandum of cooperation in the green energy sphere, kickstarting the process of creating a new green energy corridor," the ministry said.

The document was signed in the course of the 11th Ministerial Meeting of the Southern Gas Corridor Advisory Council and the Third Ministerial Meeting of the Green Energy Advisory Council.

A draft memorandum was approved by the countries on February 7, 2025.

The memorandum has a three-year term, and can be extended automatically by further three-year intervals providing none of the parties choose to terminate it. The document reflects the parties' agreements on undertaking joint green electricity projects, building essential infrastructure, exchanging knowledge and technologies and supporting mutually beneficial initiatives.

The document stipulates that the four countries' energy ministries work to strengthen collaboration between public and private sectors in exploring opportunities to modernize energy systems and implementing joint investment projects aimed at expanding the possibilities of electricity transmission and trading.

The memorandum aims to bring about improvements in energy infrastructure and enhance measures to incentivize the use of renewable energy sources.