Azerbaijan-initiated Green Energy Corridor project will connect Central Asia, Azerbaijan and Europe into a single energy space, Elmir Musayev, CEO of SOCAR Green, said during the panel discussion titled “Public-Private Partnerships (PPP) for Cross-Border Infrastructure for Regional Connectivity,” organized within the framework of the annual meetings of the Islamic Development Bank Group (IsDB) in Baku, APA reports.
According to him, Azerbaijan is rapidly increasing renewable energy production and implementing several strategic projects in this direction:
“Projects with a total capacity of approximately 3 gigawatts in solar and wind energy are currently planned in the country. Through these projects, the share of renewable energy in electricity generation is targeted to reach 38% by 2030.”
Musayev stated that one of the key directions of Azerbaijan’s energy strategy is the expansion of green energy exports:
“To this end, several important energy corridor projects have been proposed at Azerbaijan’s initiative. One of them is an approximately 1,500-kilometer electricity transmission line planned to run under the Black Sea, connecting Azerbaijan, Georgia, Romania and Hungary.”
He noted that work on the project’s feasibility study is ongoing:
“Energy ministries and partner institutions, together with international financial institutions, are preparing the project's feasibility study. Preliminary results are expected to be announced in the coming months.”
According to the CEO, the second strategic initiative is the Central Asia–Azerbaijan–Europe Green Energy Corridor:
“This project will enable Central Asia’s rich renewable energy resources to reach European markets through Azerbaijan and will strengthen regional energy integration.”
Musayev emphasized that the creation of unified regulatory frameworks is essential for the success of such projects:
“Fragmented regulatory systems increase project costs and prolong implementation periods. Therefore, harmonization of the regulatory and legal framework among countries is of particular importance.”
He added that the development of energy corridors depends not only on international transmission lines but also on the modernization of national energy networks:
“To integrate larger volumes of renewable energy, it is necessary to upgrade, optimize and enhance the technical capacity of domestic transmission and distribution networks.”
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