BAKU, Azerbaijan, November 12. Green Energy Corridor (GECO) and the Belgian firm Jan De Nul Group have signed a Memorandum of Understanding (MoU) to collaborate on the subsea component of the Green Energy Corridor project, GECO reported.
According to the report, the General Director of GECO, Yusif Gayibov, visited the headquarters of Jan De Nul Group, where the document was signed in the presence of the company’s owner, Jan Pieter De Nul.
The memorandum establishes a framework for cooperation on the subsea portion of the project, which aims to transmit electricity generated from renewable sources in the Caspian region and Georgia to Europe via the Black Sea.
GECO noted that Jan De Nul Group’s expertise in executing long-distance subsea cable-laying projects will be leveraged as the initiative moves forward.
During the visit, Gayibov also toured one of the company’s cable-laying vessels, the Isaac Newton, which is capable of transporting and installing up to 10,700 tons of cable in a single voyage.
According to the report, the vessel has previously been deployed for cable-laying projects related to the transmission of renewable energy in the Netherlands, Greece, Germany, and Iceland.
GECO has expressed its interest in continued collaboration with Jan De Nul Group to connect the renewable energy potential of Azerbaijan and Georgia with European markets.
The Caspian-Black Sea-Europe Green Energy Corridor is a cross-border electricity transmission project involving Azerbaijan, Georgia, Romania and Hungary. It was established under a strategic partnership agreement signed in Bucharest on Dec. 17, 2022, with the participation of the European Commission. It envisages a transmission corridor with a total capacity of 3.9 gigawatts (GW), comprising three lines, each with a capacity of 1.3 GW.
The project is being developed by Green Energy Corridor Power Company (GECO), a Bucharest-registered joint venture owned by the national transmission system operators of the four countries. Azerbaijan's Azerenerji, Georgia's Georgian State Electrosystem, Romania's Transelectrica and Hungary's MVM each hold a 25% stake in the company.
The project is included in the European Network of Transmission System Operators for Electricity's (ENTSO-E) Ten-Year Network Development Plan (TYNDP) for 2026 under project numbers 1248 and 1244.
Total investment in the project is estimated at €22 billion, including €14.3 billion for electricity transmission infrastructure and €7.8 billion for renewable energy generation capacity.
The corridor is expected to reach its full transmission capacity by 2040. The results of the feasibility study were presented in Baku on Oct. 22, 2026.
