Caspian-Black Sea-Europe green energy corridor put at €22 billion as feasibility study wins backing

Total investment in the Caspian-Black Sea-Europe Green Energy Corridor is estimated at about €22.1 billion, with €14.3 billion for transmission infrastructure and €7.8 billion for generation capacity, Report.az reported, citing the project’s developer, Green Energy Corridor Power Company (GECO) (https://report.az/en/energy/caspian-black-sea-europe-green-energy-corridor-investment-estimated-at-22b).

The project, which will connect Azerbaijan, Georgia, Romania and Hungary, moves into implementation after its feasibility study was completed and formally approved, Report.az said. Trend.az reported that the study was finalised in July 2026 and endorsed by the governments of all four countries, and that its results were presented for the first time to international investors at a forum in Baku (https://www.trend.az/azerbaijan/4238719.html).

The corridor will be a 3.9 GW multi-terminal high-voltage direct current system of three 1.3 GW lines, with a Black Sea submarine cable of about 1,124 km laid at depths of up to 2,200 metres, running from Baku through Georgia to Constanta and Bucharest in Romania and the Albertirsa hub in Hungary (https://report.az/en/energy/caspian-black-sea-europe-green-energy-corridor-investment-estimated-at-22b).

The first 1.3 GW line is scheduled to enter operation in 2032, enabling exports of up to 8 TWh of renewable electricity a year to the European Union, rising to 20 TWh a year by 2040 when all three lines are in service, Trend.az reported. The study puts the project’s internal rate of return at 11.7% and its net present value at €26.6 billion (https://www.trend.az/azerbaijan/4238719.html).