The 12th Ministerial/Steering Committee meeting was held in Baku within the framework of the implementation of the “Agreement on Strategic Partnership in the Field of Green Energy Development and Transmission between the Governments of the Republic of Azerbaijan, Georgia, Romania, and Hungary.”
According to sea-news.az that Azerbaijan was represented by Minister of Energy Parviz Shahbazov, Georgia by Minister of Economy and Sustainable Development Mariam Kvrivishvili, Romania by State Secretary of the Ministry of Energy Cristian Bușoi, and Hungary by State Secretary of the Ministry of Economy and Energy András Tóth. The event was also attended by representatives from the European Union, Bulgaria, Italy, the “Green Energy Corridor Energy Company” (GECO), “CESI S.p.A.”, the electricity transmission system operators of the four countries, as well as the World Bank Group, the European Bank for Reconstruction and Development (EBRD), and the Asian Development Bank (ADB).
During the meeting, progress on the “Caspian-Black Sea-Europe Green Energy Corridor” project was reviewed. A presentation by “CESI S.p.A.” on the final results of the project’s feasibility study (FS) was heard. The presentation highlighted findings regarding market simulations and cost-benefit analysis, energy system integration, route studies, business model assessment, as well as the project’s conceptual design, implementation plan, and procurement strategy. Additionally, a report from the “Green Energy Corridor Energy Company” (GECO) regarding the project’s implementation status and development directions following the feasibility study stage was presented. Project financing issues and regional developments in the renewable energy sector were also reviewed.
Minister of Energy Parviz Shahbazov stated that the “Caspian-Black Sea-Europe Green Energy Corridor” project is a clear manifestation of the common political will, strategic partnership, and mutual trust between the countries: “With the successful completion of the feasibility study, we are moving the project from the planning stage to the development and implementation phase. In line with the strategic course set by the President of Azerbaijan, Ilham Aliyev, our country is further strengthening its position as a reliable partner in the production, transmission, and export of green energy. The support for the project from European Commission President Ursula von der Leyen confirms that the strategic importance of this initiative for Europe’s energy security and green energy transition is recognized at the highest political level. As a result of our joint efforts, this project will make a significant contribution to strengthening Europe’s energy security, accelerating the green energy transition, and deepening regional cooperation.”
As a result of the discussions, it was declared that the feasibility study stage has concluded, and the project is officially moving to the next development phase. GECO was tasked with preparing a detailed roadmap outlining the measures to be taken until the Final Investment Decision is adopted. An agreement was reached to establish a cooperation dialogue among the national energy regulatory bodies of the participating countries to strengthen the regulatory framework for project implementation.
At the conclusion of the discussions, a Protocol reflecting the outcomes of the meeting was signed, as well as a “Joint Letter of Support and Commitment” addressed to European Commissioner for Energy and Housing Dan Jørgensen, aimed at including the “Green Energy Corridor” project in the EU’s 3rd list of Projects of Mutual Interest (PMI) and Projects of Common Interest (PCI).
It was decided that the next meeting would be held in Romania this November.
It is worth noting that the “Agreement on Strategic Partnership in the Field of Green Energy Development and Transmission between the Governments of the Republic of Azerbaijan, Georgia, Romania, and Hungary” was signed in Bucharest on December 17, 2022.
