Azerbaijan is working closely with the World Bank, the Asian Development Bank and other international partners to successfully implement the project to lay a cable under the Black Sea, according to Report's correspondent from Tbilisi.
"Azerbaijan is part of this project. The Caspian Sea has enormous energy potential for renewable sources," Samir Sharifov, Azerbaijan's Minister of Finance and Governor for Azerbaijan at ADB, said during the panel discussion "Middle Corridor: Rebuilding the ties between Europe and Asia."
"As stated, the project will mainly involve transporting electricity along the seabed, and it will thereby provide for increasing the energy generating potential of both Georgia and Azerbaijan. As for us, I would like to state that Azerbaijan has adopted an energy transition strategy under which it will gradually replace its fossil fuel-based electricity generation capacity with renewable energy sources," the minister said.