ACWA Power to participate in synergy of projects on export of green energy via Azerbaijan to Europe

Joint venture "Green Energy Corridor" (GECO, Black Sea Energy), established under the project for the export of green energy along the Caspian-Black Sea-Europe route, and ACWA Power will develop a joint cooperation plan in the coming months.

As Report informs, the relevant agreement was reached during an online meeting of the companies.

During the meeting, there was also an exchange of views and discussion of possible promising areas of cooperation. Similar negotiations were also conducted within the framework of the Trans-Caspian green energy cable project Central Asia-Azerbaijan.

The memorandum of understanding on the creation of a joint venture for the Caspian-Black Sea-Europe green corridor project was signed on July 25, 2023, between Georgia, Hungary, Romania, and Azerbaijan.

The Black Sea Submarine Cable Project is the largest infrastructure project that will directly connect Georgia and Romania, and link the energy systems of the South Caucasus and Southeastern Europe. The submarine cable will be more than 1,155 km long (1,115 km underwater and 40 km on land), with a voltage of 525 kV and a capacity of 1,300 MW. The completion of the underwater electric cable construction across the Black Sea is scheduled for 2032.

The Central Asia-Azerbaijan energy corridor, created by Azerbaijan in cooperation with Kazakhstan and Uzbekistan, which have great potential in the field of solar energy, could potentially be connected to the Caspian-Black Sea corridor, creating a connection between the large regions of Central Asia and Europe across two seas. Azerbaijan, Kazakhstan, and Uzbekistan, with the support of ADB and AIIB, agreed on April 4, 2025, to launch the first stage of the Caspian Green Energy Corridor initiative. The parties signed an agreement on cooperation in preparing a feasibility study for the project, which provides for the integration of the energy systems of the three countries and the creation of a route for renewable energy supplies to Europe.