Azerbaijan and Xlinks discuss cooperation on the Green Energy Corridor

Azerbaijan and the UK-based company Xlinks discussed the company's possible participation in developing the Caspian-Black Sea-Europe Green Energy Corridor. The exchange covered the project's technical and commercial solutions, financing and governance model. Report, citing the Energy Ministry, says the talks took place.

The discussions were held in Baku at a meeting between Energy Minister Parviz Shahbazov and Xlinks Chief Executive James Humfrey. Shahbazov stressed the importance of interconnections between countries during a period of accelerating electrification, citing energy security, environmental sustainability and economic prosperity. He said the experience of the Southern Gas Corridor showed that such projects unite peoples.

Humfrey expressed the company's interest in supporting the project's development, making joint investments and taking part at the development stage with its own funds. Information was provided about Xlinks' technical team's experience with subsea cables and high-voltage direct current systems. Proposals were presented on optimising capital expenditure, shortening implementation timelines and improving the competitiveness of electricity delivered to European markets. The financing options of a hybrid model combining regulated and commercial components, and its compliance with the EU regulatory framework, were also reviewed.