The Caspian–Black Sea–Europe Green Energy Corridor could enable the development of at least 8 GW of renewable energy capacity in the region and facilitate the transmission of approximately 20 billion kWh of electricity annually to Europe starting from 2040.
Renewables.az reports that Azerbaijan's Minister of Energy, Parviz Shahbazov, stated this in an article published in Azerbaijan newspaper.
The Minister noted that the project, aimed at bringing the Caspian region's vast renewable energy potential to European markets, will not only strengthen Azerbaijan's role in regional electricity trade but also contribute to the diversification of Europe's energy supply and its green energy transition.
The results of the corridor's feasibility study also confirm the project's economic attractiveness.
Scheduled for phased commissioning from 2032, the corridor will connect Azerbaijan and Georgia with Romania, Hungary and other European energy markets via the Black Sea. The approximately 3,000-kilometre-long corridor is expected to gradually reach a transmission capacity of 4 GW.
The project could facilitate the development of at least 8 GW of renewable energy capacity in the region and enable the transmission of approximately 20 billion kWh of electricity annually to Europe from 2040. It is also expected to reduce carbon emissions by up to 3.6 million tonnes per year.
One of the key factors enhancing the project's significance is its alignment with the European Union's priorities for energy security, supply diversification and the green transition.
During European Commission President Ursula von der Leyen's visit to Baku, political support for cooperation in this area was reaffirmed, and the EU–Azerbaijan Connectivity Partnership initiative was introduced.
In addition, under the Global Gateway investment programme, plans were announced to allocate up to €200 million in grants for the development of transport, energy and digital connectivity in the South Caucasus, with the potential to mobilise up to €2 billion in public and private investment. This initiative opens up additional financing opportunities for regional infrastructure projects.
The inclusion of the Green Energy Corridor in the draft EU Ten-Year Network Development Plan 2026 (TYNDP 2026) also represents an important step towards integrating the project into Europe's future energy infrastructure.
The application process for the project's designation as an EU Project of Mutual Interest (PMI) is currently nearing completion. Obtaining this status would strengthen the project's position within European energy policy and expand its investment opportunities.
Efforts are also underway to expand the corridor's geographical scope. Türkiye's potential participation in the project is under consideration.
Türkiye's involvement could create additional routes for exporting green electricity from the Caspian region to Europe and facilitate closer integration of regional power systems.
The project's current focus is on translating the feasibility study findings into concrete investment decisions. The final investment decision (FID) is planned for 2029.
