Starting from 2032, Azerbaijan plans to gradually export 4 gigawatts of electricity along the route of the “Green Energy Corridor Azerbaijan–Georgia–Türkiye–Bulgaria.” The project’s feasibility study is expected to be completed at the beginning of next year.
At the same time, within the framework of COP29 in November 2024, an Intergovernmental Agreement on Strategic Partnership in the development and transmission of green energy was signed between Azerbaijan, Kazakhstan, and Uzbekistan.
For the “Central Asia–Azerbaijan Green Energy Corridor,” a joint venture, Union of Green Corridors LLC, has been established with headquarters in Baku. Preparations for the project’s feasibility study are set to begin shortly, with financial support from the Asian Development Bank and the Asian Infrastructure Investment Bank.
In total, the Azerbaijani sector of the Caspian Sea has identified a wind energy potential of 157 gigawatts, and cooperation agreements for its utilization have been signed with several investor companies.
For comparison, in Europe, which continues to lead in renewable energy targets, 15 countries plan to install 99 gigawatts of offshore wind power by 2030.
Source: AZERTAC
