BAKU, Azerbaijan, August 13. An international feasibility study (FS) has affirmed the economic and technical viability of Azerbaijan's Black Sea green energy cable project, Trend reports.
According to the Georgian Ministry of Economy, the study, developed since 2022 by the Italian CESI consulting firm at the request of the Georgian State Electrosystem (GSE), was supported by the World Bank and the Georgian Ministry of Economy and Sustainable Development.
"The study confirms that the Black Sea submarine cable project is both promising and technically and economically feasible," the statement of the Georgian ministry said.
The feasibility study included the determination of optimal cable characteristics, construction cost estimates, and an economic analysis of the project.
It also outlined the preliminary routes for the cable’s onshore and offshore sections and developed a project implementation plan and procurement strategy.
Environmental and social impact studies are planned for 2025–2026, along with an assessment of the project's impact on the seabed.
To note, on December 17, 2022, Azerbaijan, Georgia, Romania, and Hungary signed a strategic partnership agreement in Bucharest to construct the Black Sea Energy submarine electric cable. The project will feature a 1 GW capacity cable stretching 1,195 kilometers, designed to transport green electricity from Azerbaijan’s future offshore wind farms through Georgia and the Black Sea to Romania, for further distribution to Hungary and other parts of Europe. The European Commission plans to allocate €2.3 billion for this project.
In May 2024, energy operators from Azerbaijan, Romania, Georgia, and Hungary signed a memorandum to establish a joint venture for the Black Sea Energy project, which will be headquartered in Bucharest.
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