BAKU, Azerbaijan, May 30. In Bucharest, Romania, a joint venture will shortly be registered to develop the Black Sea Submarine Cable Project to bring green energy from Azerbaijan via Georgia and the Black Sea to the EU, Member Board Of Directors of Romanian Transelectrica (project participant) Bogdan Toncescu said, Trend report
“Last week in Tbilisi, the seventh ministerial meeting of the Strategic Partnership for the Development and Transmission of Green Energy from Azerbaijan, through Georgia, the Black Sea to Romania, and Hungary took place. Representatives from Transelectrica, Azerenerji, Georgian GSE, and Hungarian MVM Zrt agreed to expedite the establishment of a joint venture to implement the Green Energy Corridor project, which will be registered in Bucharest,” he said.
An Italian technical consulting firm, CESI S.p.A., is overseeing the undertaking.
The establishment of this green energy corridor will facilitate the trade of decarbonized energy, in the form of electricity and hydrogen, between the South Caucasus and the EU.
To note, on December 17, 2022, Azerbaijan, Georgia, Romania, and Hungary signed an agreement on a strategic partnership, which includes the construction of an energy bridge to transport green energy (from Azerbaijan's forthcoming wind farms) from the Caucasus region to Europe.
As part of this agreement, a 1,000 MW, 1,195-kilometer-long undersea electric cable is set to be constructed.
Over time, the cable will have the capacity to transport up to four gigawatts of green energy from the Caspian region to the EU.
Additionally, a system for supplying green hydrogen from the Caspian region to the EU is being explored in tandem with this cable.
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