JV for new energy corridor from Central Asia to be established in Baku

The feasibility study for a large-scale interconnector project linking the Caspian Sea, Georgia, the Black Sea, Romania, and Hungary will be completed by the end of this year, Javid Abdullayev, director of the State Agency for Renewable Energy, said at the XIII International Caspian Energy Forum 2025 in Baku, Report informs.

He noted that negotiations on the project are proceeding intensively, and the initial results make it possible to look to the future with optimism.

"After completing the current stage, we will be able to move on to the next phase of the project. Specifically, the process of establishing a joint venture to implement the second interconnector-an energy line that will connect Central Asia and Azerbaijan along the bottom of the Caspian Sea-will be completed soon. This company will be headquartered in Baku," he emphasized.

Abdullayev added that the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank have already decided to allocate funding for analytical and expert assessments of the project, the terms of reference for which have already been agreed upon and approved.

He also reported that another strategic project-the Azerbaijan-Georgia-Türkiye-Bulgaria energy interconnector-is actively progressing, for which high-level political agreements have been reached.

Furthermore, a fourth interconnector is being built, which will pass through Nakhchivan to Türkiye and on to Europe, enabling the export of green energy.