Azerbaijan eyes up to 30 TWh undersea green cable to Europe
Date: November 15th 2024
Author: Dalibor Dobrić
Category: En.vision
Topic:
Electricity
, Renewables
, CO2 emissions
, Ecology
, En.vision
Azerbaijan has been holding talks with Romania, Hungary, Georgia and Bulgaria this week on building an undersea cable that would allow the transfer of 20-30 TWh of offshore wind energy annually from the Caspian Sea to Europe.
The energy ministers of the five countries met at the COP29 conference in Baku, which kicked off on Monday, to discuss the business model and financing options of the so-called green energy corridor project, lobby group WindEurope said in a LinkedIn post late on Thursday.Bulgaria is the latest country to join the project, with the other four countries having established a joint venture to build the transmission line in September.
The European Commission, European Investment Bank (EIB), and the European Bank for Reconstruction and Development (EBRD) were also “part of the dialogue”, WindEurope said.
“The security, cooperation, coordination, in combination with the suitable financing, are key to building green energy corridors between the countries,” Bulgarian energy minister Vladimir Malinov said in a separate statement.
Azerbaijani energy minister Parviz Shahbazov had earlier indicated plans for such a project, noting that his country had “huge wind energy potential in the Caspian Sea” of about 157 GW, of which 35 GW were in shallow waters.
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