Azerbaijan plans to sign green energy supply agreement with Serbia

Azerbaijan hopes to sign an agreement on green energy supplies with Serbia soon, Sahil Babayev, Azerbaijan's Minister of Labor and Social Protection, said.

According to Report, speaking at a briefing following the 8th meeting of the Azerbaijan-Serbia Intergovernmental Commission on Trade and Economic Cooperation in Baku, Minister Babayev emphasized the significance of green energy as a crucial area for collaboration between the two nations. He highlighted the importance of establishing the Azerbaijan-Georgia-Europe Green Energy Corridor via the Black Sea, which aims to deliver 4 GW of green energy from Azerbaijan to Europe.

The minister said Azerbaijan has already reached agreements with Romania and Hungary, and negotiations with Serbia have been ongoing. He revealed that the feasibility study for this ambitious project will be completed in the second half of the current year, paving the way for final decisions to be made.

With Azerbaijan's green energy potential exceeding 150 GW, Minister Babayev expressed optimism about reaching an agreement with Serbia on green energy projects in the near future.

"As Azerbaijan has already established itself as a supplier of traditional energy resources to the Serbian market, the country is now set to expand its portfolio by becoming a green energy provider as well," Sahil Babayev said.