A meeting was held in Baku between the Minister of Energy Parviz Shahbazov and the Chief Executive Officer of the British company Xlinks James Humfrey, Renewables.az informs this, citing Azerbaijan's Ministry of Energy.
During the meeting, the sides exchanged views on the company's possible participation in the development of the Caspian-Black Sea-Europe Green Energy Corridor, as well as on the technical and commercial solutions, financing, and management model of the project.
Minister Parviz Shahbazov emphasized the importance of international energy interconnections in terms of energy security, ecological sustainability, and economic prosperity during the period of accelerated electrification. The minister, who likened these connections to bridges creating new trade opportunities between countries and regions, stated that the Southern Gas Corridor experience has shown that such projects unite peoples, create additional economic value, and foster long-term cooperation. It was noted that the inclusion of fiber-optic connection in the Green Energy Corridor expands energy and digital cooperation opportunities.
James Humfrey expressed interest in supporting the company's project development, making joint investments, and participating with its own funds during the development phase. Information was provided about the technical team of Xlinks and their experience with submarine cables and HVDC technology providers. Proposals have been submitted for the optimization of capital expenditures, reduction of implementation deadlines, and enhancement of the competitiveness of electricity to be delivered to European markets. The financing possibilities of a hybrid model combining regulated and commercially based components, and its compatibility with the European Union's regulatory framework, have been reviewed.
