BAKU, Azerbaijan, August 13. Shareholders of the Romanian power grid operator, Transelectrica, approved the company's participation in the project to create a green energy corridor Azerbaijan-Georgia-Europe through the bottom of the Black Sea, Trend reports via the Romanian media.
“Transelectrica’s shareholders have agreed to the company’s participation in a project whose goal is to deliver green and affordable electricity from the Caspian Sea region via a 1,200 km bottom cable that will cross the Black Sea and reach Hungary,” the reports read.
On December 17, 2022, Azerbaijan, Georgia, Romania, and Hungary inked a strategic partnership agreement, outlining the construction of an energy bridge from the Caucasus region to Europe.
Under the agreement, the construction of the Black Sea Energy submarine electric cable is anticipated, boasting a capacity of 1,000 MW and spanning 1,195 kilometers. This cable is slated to transport green electricity from Azerbaijan through Georgia and the Black Sea to Romania, facilitating onward transportation to Hungary and other parts of Europe. The initiative is expected to enable the supply of up to four gigawatts of green energy.
This May, energy operators from Azerbaijan, Romania, Georgia, and Hungary signed a memorandum to establish a joint venture for the implementation of the Black Sea Energy project.
The headquarters of the JV will be in Bucharest.