BAKU, Azerbaijan, November 14. The Budapest meeting of the ministers of Azerbaijan, Georgia, Romania, and Hungary on the establishment of the Green Energy Corridor concluded with significant outcomes, the Azerbaijani Energy Minister Parviz Shahbazov said in a post on his official X page, Trend reports.
"The Budapest meeting of the ministers of Azerbaijan, Georgia, Romania, and Hungary on the establishment of the Green Energy Corridor concluded with significant outcomes. It was agreed to complete the feasibility study by the end of March and, at the next stage, to implement the measures to be carried out by the Green Energy Corridor Energy Company (GECO) for the development of the project.
Also, in accordance with the concept of the Intergovernmental Agreement, an understanding was reached between the Green Energy Corridor and Black Sea Submarine Cable projects on the exploration and development of technical and strategic synergies to increase cross-border transmission capacity and regional energy connectivity.
For this purpose, a working group consisting of deputy ministers and GECO representatives was tasked with preparing relevant proposals and presenting them at the next meeting," the post reads.
The Azerbaijan, Georgia, Romania, and Hungary Green Energy Corridor project aims to create an underwater high-voltage direct current (HVDC) cable across the Black Sea to transport renewable energy from Azerbaijan and Georgia to Europe. The initiative's goal is to diversify Europe's energy supply, improve energy security, and establish a direct physical link for green electricity from the South Caucasus to the EU. The corridor will also feature a fiber-optic cable for digital communication, beginning with a transmission capacity of 4 GW.
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