Türkiye, Azerbaijan and partners discuss Black Sea power cable

Türkiye, Azerbaijan, Bulgaria and Georgia are discussing the construction of a submarine electricity transmission line across the Black Sea, Turkish Energy and Natural Resources Minister Alparslan Bayraktar said.

Report informs, citing Anadolu Agency, that Bayraktar was commenting on the strategic clean energy partnership agreement signed between the governments of the four countries.

"The document signed today is one such project. We are talking about a large-scale green energy corridor that we plan to establish together with Georgia, Azerbaijan and Bulgaria. In addition, we are discussing the construction of an electricity transmission line across the Black Sea with these countries and Romania. We need to ensure the transmission of large volumes of electricity from east to west and from north to south," he said.

Bayraktar said Türkiye was also holding talks with several other countries on large-scale energy integration projects.

He emphasized that Ankara aimed to promote these projects internationally and advance concrete initiatives at COP31.

"By signing this agreement today, we have fulfilled one of our commitments in this direction. These projects demonstrate the concrete steps Türkiye is taking under its energy strategy and electrification targets through 2040, as well as its contribution to global energy transition efforts," he said.

Bayraktar added that Türkiye's energy transition would require approximately $300 billion in investment.

"These investments must be made over the next 14–15 years. We therefore need substantial financial support from international financial institutions, particularly the World Bank, the International Finance Corporation (IFC), the European Bank for Reconstruction and Development, and other institutions. Attracting foreign direct investment to Türkiye is also important.

"I would like to tell companies planning to invest in Türkiye that it is a very important and growing market. Its population is increasing, urbanization continues, the economy is expanding, and exports are growing," the minister said.

Georgia's Deputy Prime Minister and Economy and Sustainable Development Minister Mariam Kvrivishvili previously said the energy partnership opened up new opportunities to develop the region's energy sector and increase electricity supplies to European Union countries.