(MENAFN- AzerNews)
Ulviyya Shahin Read more
The Caspian-Black Sea-European Green Energy Corridor, avisionary initiative aimed at bolstering sustainable energyinfrastructure and fostering regional economic integration, ispoised to take a significant step forward this year. ElnurSoltanov, Deputy Minister of Energy of Azerbaijan, recentlyrevealed that the evaluation process, crucial for the establishmentof this corridor, is set to commence imminently. This developmentunderscores the commitment of the participating nations to embracerenewable energy and promote cross-border collaboration.
Soltanov's announcement highlights the completion of thetechnical assignment for engaging a consulting company, signallingthe readiness to kickstart evaluation activities without delay proactive approach underscores the determination of Azerbaijanand its partners to expedite the realisation of this ambitiousproject, which holds immense potential for enhancing energysecurity and driving economic growth across the region.
A key aspect of the Caspian-Black Sea-European Green EnergyCorridor is its meticulous planning and execution. The constructionof this corridor was conducted in accordance with a managementcontrol tender overseen by a consulting legal company. This processaimed at establishing a joint venture between the energy systemoperators of Azerbaijan, Georgia, Hungary, and Romania, ensuringefficient management and seamless integration of the corridor'sinfrastructure.
The significance of this initiative was further underscored bythe signing of the "Agreement on Strategic Cooperation in the Fieldof Development and Transmission of Green Energy between theGovernments of the Republic of Azerbaijan, Georgia, Romania, andHungary" on December 17, 2022, in Bucharest. This agreementreflects the collective commitment of the participating nations toprioritise sustainable energy development and transmission, layingthe groundwork for long-term cooperation and mutual prosperity.
Moreover, the interest expressed by Uzbekistan in joining thisproject adds a new dimension to its regional impact. Soltanovrevealed that a communiqué has been signed between the respectivestate ministers, indicating a growing consensus on the importanceof regional collaboration in advancing green energy initiatives demonstrates the potential for the Caspian-Black Sea-EuropeanGreen Energy Corridor to serve as a catalyst for broader regionalintegration and cooperation.
It is essential to recognise that the Caspian-Black Sea-EuropeanGreen Energy Corridor is not merely a domestic endeavour but acollaborative effort with the European Union. This joint projectunderscores the commitment of the participating nations to harnessrenewable energy sources and combat climate changecollectively.
In conclusion, the imminent commencement of the evaluationprocess marks a significant milestone in the journey towardsrealising the Caspian-Black Sea-European Green Energy Corridor strategic collaboration and concerted efforts, thisinitiative has the potential to drive sustainable development,promote energy security, and foster economic prosperity across theregion and beyond.
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