Investments in Caspian-Europe Green Energy Corridor to exceed 22bln euro

The Green Energy Corridor project (Caspian-Black Sea-Europe Green Energy Corridor), designed to connect Azerbaijan’s renewable energy resources with European markets via Georgia and the Black Sea, requires around €22 billion in total investment, according to the project’s feasibility study.

It includes €14.3 billion worth transmission investment and €7.8 billion dedicated to renewable generation.

The feasibility study has been completed and endorsed by the governments of Azerbaijan, Georgia, Romania and Hungary, with the project now entering its development phase.

The planned multi-terminal high-voltage direct current transmission corridor will comprise three links with a combined capacity of 3.9 GW.

The corridor is expected to enable the export of 8 TWh of renewable electricity annually to the EU by 2032, rising to 20 TWh per year by 2040.

The Green Energy Corridor is a cross-border electricity transmission initiative involving Azerbaijan, Georgia, Romania and Hungary. The project is being developed by Green Energy Corridor Power Company.