Full launch of Black Sea Energy corridor scheduled for 2040
BAKU. Feb 25 (Interfax) - The full launch of the Caspian - Black Sea - Europe energy corridor (Black Sea Energy), which involves transporting green electricity from Azerbaijan through Georgia to European countries, is scheduled for 2040, Azerbaijani Deputy Energy Minister Elnur Soltanov said.
"The first segment of the project will be completed in 2032, the second in 2036 and the third in 2040," Soltanov told the Azerbaijani agency Trend.
The preparation of the feasibility study for this project should be completed in Q1 2026, he said.
Speaking about the Trans-Caspian green energy corridor (Central Asia - Azerbaijan), Soltanov said that the Italian engineering company CESI will complete the development of the feasibility study by 2027.
"With the participation of this consultant, preliminary studies within the project are expected to be carried out over 11 months; thus, the feasibility study could be ready by the beginning of 2027," Soltanov said.
He also recalled that thanks to the implementation of energy projects in Azerbaijan, generating capacities in the field of renewable energy totaling 6 GW will be created by 2030, and 8 GW by 2032.
"In Karabakh and Eastern Zangezur, the total installed capacity from hydroelectric power plants, solar and wind installations as well as rooftop solar panels will amount to 1.6 GW by 2030, which will ensure a reduction in emissions of more than 2 million tonnes," Soltanov said.
Five different sites have been identified for implementing offshore wind energy projects on the Caspian Sea, he said.
"The technical potential of renewable energy sources at sea is estimated at 157 GW. A number of agreements have been signed for the effective development of this potential. At the initial stage, promising territories for creating wind energy facilities in the Caspian were identified, conclusions from relevant state bodies were obtained, and agreement was reached on these territories. The process of defining these sites as zones for placing renewable energy facilities is currently ongoing," he said.
As reported, in December 2022, Azerbaijan, Georgia, Romania and Hungary signed a strategic partnership agreement on constructing the Black Sea Energy underwater electric cable. In 2023, Bulgaria's intention to join the project was announced. In the same year, the Bulgarian government approved the participation of the company Bulgarian Energy Holding EAD in the joint venture for the project implementation.
In May 2024, the energy operators of Azerbaijan, Romania, Georgia and Hungary - OJSC Azerenerji, Transelectrica SA, Georgian State Electrosystem and MVM - signed a memorandum on creating a joint venture, and in September, a shareholders' agreement was concluded to establish the joint venture Green Energy Corridor Power Company. The joint venture was established in Bucharest in 2025.
The construction is estimated at 3.5 billion euros and will take three to four years. The European Commission plans to allocate 2.3 billion euros for the project.
It was also reported that the energy cable laid along the bottom of the Caspian will become an integral part of the energy bridge project from Central Asia across the Caspian and Black Seas to Europe.
The strategic partnership agreement on the development and transmission of green energy between the governments of Azerbaijan, Kazakhstan and Uzbekistan was signed by the heads of the three states in November 2024.
OJSC Azerenerji, KEGOC and National Electric Grid of Uzbekistan signed a document on June 1, 2025, to establish Yasil Dehliz Birliyi LLC (Green Corridor Union) for implementing the Trans-Caspian Green Energy Corridor Central Asia - Azerbaijan project.
