Romania, Azerbaijan, Georgia, and Hungary have formed a joint venture to develop a regional green energy corridor, which includes constructing a subsea cable to transmit renewable power from Azerbaijan across the Black Sea to Eastern Europe.
Azerbaijan aims to become a key supplier of gas and renewable energy to Europe, diversifying its energy sources away from Russian supplies. As part of its strategy, Azerbaijan is focusing on green energy projects, particularly wind and solar energy in Karabakh and Eastern Zangezur. The country has set a goal to increase the share of renewables in its power mix to 30% by 2030. The feasibility study for this subsea interconnector project will be presented at the 29th UN Climate Change Conference, scheduled to take place from 11-23 November in Baku, Azerbaijan. The European Commission will provide funding for the 685-mile project.
