UK's Xlinks joining Black Sea Energy corridor project
BAKU. Dec 8 (Interfax) - UK's Xlinks will participate in the Caspian-Black Sea Energy corridor project to supply green energy from Azerbaijan to Georgia and then to Europe, the Azerbaijani Energy Ministry said.
Xlinks and Green Energy Corridor Power Company (GECO), a joint venture managing the project to construct a submarine energy cable along the bottom of the Black Sea, on Monday signed a memorandum of understanding in Baku.
"The signing of the memorandum took place during a meeting between Azerbaijani Energy Minister Parviz Shahbazov and the British Ambassador to Baku, Fergus Auld. The parties discussed the development of energy cooperation between Azerbaijan and the United Kingdom. They exchanged views on expanding the long-term energy partnership in the areas of green energy, the Caspian Sea-Black Sea-Europe corridor, and applying innovation," according to the statement.
The memorandum includes matters concerning looking into collaboration opportunities in submarine cable and related infrastructure projects, information exchange, and technical assessments.
"The memorandum does not create legal obligations, and GECO is currently in discussions with potential partners for the period beyond the feasibility study phase of the Black Sea Energy project," according to the statement.
Xlinks is a British company specializing in large-scale renewable energy projects. The company's technical staff has experience constructing the North Sea Link interconnector between the UK and Norway, a 720-kilometer pipeline with transmission capacity of 1.4 GW, and the Viking Link interconnector between the UK and Denmark, a 765-kilometer pipeline with transmission capacity of 1.4 GW.
Azerbaijani Deputy Energy Minister Orkhan Zeynalov earlier said that the Black Sea Energy corridor is scheduled to be operational in 2032. Zeynalov said that Azerbaijan plans to export up to 4 gigawatts (GW) of green energy per year through the corridor. Electricity will be transmitted via a high-voltage direct current (HVDC) line through Georgia and a submarine cable across the Black Sea to Romania and Hungary. A commercial investment model is expected to emerge in the coming months.
In December 2022, Azerbaijan, Georgia, Romania, and Hungary signed a strategic partnership agreement to construct the Black Sea Energy submarine power cable. In 2023, Bulgaria announced its intention to join the project. That same year, the Bulgarian Council of Ministers approved the participation of Bulgarian Energy Holding EAD in the joint venture to implement the project.
In May 2024, the energy operators of Azerbaijan, Romania, Georgia, and Hungary - JSC Azerenergy, Transelectrica SA, Georgian State Electricity System, and MVM - signed a memorandum establishing a joint venture. In September, a shareholders' agreement was signed establishing the Green Energy Corridor Power Company (GECO Power Company) joint venture. The joint venture was established in Bucharest in 2025.
Construction is estimated to cost 3.5 billion euros and require three to four years. The European Commission plans to allocate 2.3 billion euros for the project.
