Green Energy Corridors Discussed in Meetings at Azerbaijan's Ministry of Energy on the First Day of COP-29

On November 11, Energy Minister Parviz Shahbazov met with European Commission Director-General for Energy Ditte Juul Jørgensen and European Investment Bank (EIB) Vice-President Teresa Czerwińska. The main topic of the talks was the implementation of projects for the possible export of Azerbaijan's green energy to Europe.

According to Azerbaijan's Ministry of Energy, the meeting with Jørgensen highlighted Azerbaijan's role as a reliable energy partner working with the European Union under a renewed strategic energy partnership, which includes the expanding Southern Gas Corridor. The development processes of the "Caspian-Black Sea-Europe" Green Energy Corridor and the "Central Asia-Azerbaijan" Green Energy Corridor, aimed at supplying green energy from Azerbaijan to Europe, were also discussed. The potential involvement of European companies in building green energy infrastructure, producing and exporting energy from future wind farms in the Caspian Sea, and delivering it to consumers was also reviewed, according to the press release.

In a meeting between Minister Parviz Shahbazov and EIB Vice-President Teresa Czerwińska, discussions focused on green energy transition projects. Specifically, the project to integrate renewable energy sources (RES) into Azerbaijan’s energy system by 2027, valued at $2.5 billion, was highlighted.

Following the RES integration phase, the export-oriented project phase will begin, with discussions on the Caspian-Black Sea-Europe and Central Asia-Azerbaijan green energy corridors. Investment cooperation opportunities with the EIB for green energy corridor projects, the creation of additional energy networks, improvements to energy systems, and increased energy efficiency were evaluated. EIB Vice-President Teresa Czerwińska expressed the bank's interest in a green energy partnership with Azerbaijan.