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There, d elegations from Azerbaijan, Georgia, Hungary, and Romania finalized an ambitious plan: to generate up to 6 gigawatts of clean energy in the Caucasus region, run the electricity through a cable along the bottom of the Black Sea, and deliver it to Europe. Azerbaijan built its economy on its abundant fossil fuels.
On top of this, the OMV Group intends to take a leading position in the field of renewable and circular economy solutions. Patented chemical recycling technologies as well as standard and advanced mechanical recycling technologies are expected to support OMV in becoming a global leader in circular economy solutions.
The transcontinental connection would start with wind, solar, and hydropower generated in Azerbaijan and Georgia, and off-shore wind power generated in the Caspian Sea. An undersea cable would move the electricity across the Black Sea and deliver it to Constanta, Romania, where it could be distributed further into Europe.
Such an economy could be largely self contained—the technical term is autarkic —as indeed it was during the Soviet era. But Russia now has a huge ally in the world’s largest economy, China. These price increases were driven in part by a drop in wind-generated energy, the leading form of renewable energy on the European continent.
Today BYD employs 130,000 people in 11 factories, eight in China and one each in India, Hungary, and Romania. His people at MidAmerican have studied clean technologies like batteries and wind power for years because of the threat of climate change. near Motorola, and another 20 or so work in San Francisco, not far from Apple.
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