Four Nations Unite to Accelerate the Caspian-Black Sea Green Energy Corridor
A significant step towards regional green energy cooperation was taken in Tbilisi, Georgia, as energy ministers from Azerbaijan, Georgia, Hungary, and Romania met to discuss the implementation of their strategic partnership agreement. The meeting, attended by representatives from Bulgaria, GECO, CESI, and electricity companies, focused on the Caspian-Black Sea-Europe Green Energy Corridor project.
The ministers agreed to work towards Bulgaria's accession to the agreement and inclusion in GECO, aligning the project with EU priorities. CEsi was tasked with completing the feasibility study by the end of March, while GECO was to determine development models and initiate negotiations with partners and investors.
Azerbaijan's proposal regarding the Black Sea Submarine Cable project and the Green Energy Corridor was accepted, leading to the formation of a Working Group to explore synergies between the two projects. The meeting concluded with the signing of a protocol by the energy ministers of the four countries.
Minister Shahbazov proposed that GECO be given the mandate to sign a contract with CESI for the fibre-optic cable component, and suggested exploring synergies between the energy corridor and the Black Sea Submarine Cable project. Discussions focused on the technical-economic justification of the project and plans for the next phase, including business models and project connection schemes. The meeting reviewed presentations by GECO and CESI, discussing regional renewable energy developments and future cooperation opportunities.
The Tbilisi meeting marked a significant milestone in the advancement of the Caspian-Black Sea-Europe Green Energy Corridor project. With Bulgaria's potential inclusion and the alignment with EU priorities, the project's prospects for gaining EU PCI status through ENTSO-E's TYNDP list have been strengthened. The next steps involve completing the feasibility study and exploring synergies with other projects to enhance the region's green energy infrastructure.
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