Minister: Goal is to bring 4 GW transmission project to final investment decision

Baku hosted the forum "Green Energy Corridor: From Techno-Economic Justification to Implementation," dedicated to investment and partnership opportunities for the Caspian-Black Sea-Europe Green Energy Corridor. According to the Ministry of Energy, the forum aims to accelerate the project's transition from technical-economic justification to investment and practical implementation, and to discuss its business model, financing structure and commercial prospects with potential partners. Representatives of state bodies, the European Union, international financial institutions, energy companies and equipment suppliers are taking part, including the World Bank, EIB, EBRD and ADB.

Energy Minister Parviz Shahbazov said at the opening that the project is strategically important for regional energy security, diversification of supply and the green transition. He noted that the study of the project, which was launched under a 2022 strategic partnership agreement signed in Bucharest and completed in July this year, confirmed that it can be technically implemented and is economically attractive. The roughly 3,000-kilometre corridor is planned to enter phased operation from 2032, with transmission capacity raised to 4 GW.

According to the minister, the goal is to turn the corridor into a regional infrastructure project with a clear business model, a sustainable financial structure and attractive terms for investors, ahead of a final investment decision planned for 2029. The project is expected to transmit around 20 billion kilowatt-hours of electricity to Europe annually from 2040 and reduce carbon emissions by up to 3.6 million tonnes. Shahbazov also stated the goal in a post on his account on the social network X.