EU-backed Caspian-Black Sea-Europe green energy route targets 2032 debut Deputy Energy Minister says

The ambitious "green" energy corridor connecting the Caspian Sea to Southeast Europe via the Black Sea is slated for launch in 2032, Azerbaijan’s Deputy Energy Minister Orkhan Zeynalov said.

In an interview with European media, Zeynalov said that the project, formally known as the Caspian-Black Sea-Europe Green Energy Corridor, is a strategic initiative involving Azerbaijan, Georgia, Romania, and Hungary, with Bulgaria also expressing interest in joining, Caliber.Az reports via local media.

Designed to transmit up to 4 gigawatts (GW) of renewable energy from Azerbaijan’s offshore wind farms to Southeast Europe, the corridor aims to enhance energy security and price stability in the region.

"We plan to export [through this corridor] up to 4 gigawatts (GW) of green energy, but in stages – 1.3 GW, 1.3 GW, 1.3 GW. So there will be one cable at each stage, and the launch is planned for 2032," Zeynalov noted.

The energy will be transported via a high-voltage direct current (HVDC) transmission cable through Georgia, continuing under the Black Sea to Romania and onward to Hungary. A feasibility study for the project is nearing completion, and a commercial investment model is expected in the coming months.

"This is a strategic project because, firstly, it provides a link between the Caspian Sea, the Black Sea and Southeast Europe. Secondly, as you see, prices in Southeast Europe are generally a bit high, and additional energy can also stabilise the market and lower prices, which is very good for end consumers," Zeynalov explained.

To implement the project, a joint venture—GECO Green Energy Corridor Power Company—was established earlier this year in Bucharest. In May 2024, the national grid operators of Azerbaijan (Azərenerji), Georgia (GSE), Romania (Transelectrica), and Hungary (MVM) signed a memorandum of understanding, followed by a shareholders’ agreement in September.

Construction of the corridor is expected to take three to four years at an estimated cost of €3.5 billion. The European Commission has pledged €2.3 billion in funding and the consortium plans to apply for Project of Mutual Interest (PMI) status next year to further strengthen EU-level support.

By Vafa Guliyeva