Azerbaijan and Turkey discuss laying a power line along the bottom of the Black Sea
Turkey, Azerbaijan, Bulgaria, and Georgia are discussing a project to lay an underwater power transmission line along the bottom of the Black Sea.
As Report informs citing Anadolu Ajansı, this was stated by Turkey's Minister of Energy and Natural Resources Alparslan Bayraktar.
The minister commented on the agreement on strategic partnership in the field of clean energy signed between the governments of Turkey, Azerbaijan, Bulgaria, and Georgia.
"The agreement signed today concerns one of these projects. It is about a large-scale green energy corridor that we plan to create together with Georgia, Azerbaijan, and Bulgaria. In addition, we are discussing with these countries and Romania the construction of a power transmission line along the bottom of the Black Sea. We need to ensure the transmission of large volumes of electricity from east to west and from north to south."
Bayraktar reported that Turkey is also holding talks with a number of other countries on large-scale energy integration projects.
He emphasized that Ankara intends to use COP31 to promote these projects at the international level and implement concrete initiatives.
"By signing this agreement today, we have fulfilled one of our commitments in this direction. These projects show what concrete steps Turkey is taking within the framework of its energy strategy until 2040 and its electrification goals, as well as what contribution it is making to the global energy transition," he said.
At the same time, Bayraktar noted that the implementation of the energy transition will require investments of about $300 billion.
"These funds must be invested over the next 14-15 years. Therefore, we need serious financial support from international financial organizations, in particular the World Bank, the International Finance Corporation (IFC), the European Bank for Reconstruction and Development, and other structures. In addition, it is important to attract foreign direct investment to Turkey.
To companies planning to invest in Turkey, I want to say that our country represents a very important and growing market. The population is increasing, urbanization continues, the economy is growing, and export volumes are expanding," the minister emphasized.
Let us note that Georgia's Vice Prime Minister and Minister of Economy and Sustainable Development Mariam Kvrivishvili earlier stated that such energy cooperation would open up new opportunities for the development of the region's energy sector and for increasing electricity supplies to European Union countries.
