BAKU, Azerbaijan, May 22. Azerbaijan has great potential in the field of renewable energy, which is sufficient not only for domestic consumption, but also for export, Deputy Minister of Energy Elnur Soltanov told reporters, Trend reports.
"Along with the Southern Gas Corridor, Azerbaijan is creating corridors for the transportation of green energy. For instance, the country reached an agreement with Georgia, Romania and Hungary last December on the creation of a corresponding corridor along the bottom of the Black Sea from the Caspian Sea to Europe. The Bulgarian side has also expressed interest in taking part in this project and we expect Bulgaria to officially join this project in the near future," the deputy minister said.
Soltanov noted that Europe and its financial institutions welcome these projects and are ready to finance them.
"We also aim to create an energy corridor from Azerbaijan's Nakhchivan to Türkiye and further to world markets. In addition, I believe that the creation of the Zangazur corridor will create additional routes for the transportation of Azerbaijani products, including green energy, to the EU markets," he added.
Azerbaijan, Georgia, Romania and Hungary signed the agreement on Strategic Partnership in the Development and Transmission of Green Energy on December 17, 2022, which provides, among other things, for the construction of an energy bridge from the Caucasus region to Europe.
As part of the agreement reached, it is expected to build Black Sea Energy's underwater electric cable with a capacity of 1000 MW and a length of 1,195 kilometers.
The cable will be intended for the supply of green energy generated in Azerbaijan through Georgia and the Black Sea to Romania for subsequent transportation to Hungary and the rest of Europe.