Azerbaijan cooperates with int’l partners on Black Sea submarine cable project: Minister
- Smartbee
- Report
Azerbaijan is working closely with the World Bank, the Asian Development Bank and other international partners to successfully implement the Black Sea submarine cable project, said the country’s Minister of Finance Samir Sharifov.
He made the remarks while speaking at a panel session on the topic "Enhancing Connectivity: European Connectivity (Renewable Energy and Digital Connectivity) Middle Corridor (Reshaping Euro-Asia Connectivity)" held as part of the ADB annual meeting in Tbilisi on Thursday, News.Az reports.
Azerbaijan is part of the Black Sea submarine cable project, said the minister, highlighting the Caspian Sea’s enormous energy potential for renewable sources.
“As stated, the project will mainly involve transporting electricity along the seabed, and it will thereby provide for increasing the energy-generating potential of both Georgia and Azerbaijan. As for us, I would like to state that Azerbaijan has adopted an energy transition strategy under which it will gradually replace its fossil fuel-based electricity generation capacity with renewable energy sources,” Minister Sharifov added.
