A meeting focusing on the “Caspian Sea – Black Sea – Europe Green Energy Corridor” project will take place in Bucharest.
Sea-news.az reports that this was confirmed in an official update by the Green Energy Corridor Power Company (GECO), the joint venture responsible for project development.
According to GECO, its Board of Directors recently convened to evaluate the latest operational milestones and chart key execution priorities.
“The Board reviewed the outcome of the Investment Forum held in Baku on October 22, which brought together potential investors, international financial institutions, and core partners. The strong interest expressed during the forum reinforces the project’s strategic significance for regional energy security and the green transition,” the company stated.
The Board of Directors also approved the new executive management composition and confirmed the mandate of the newly appointed Chief Executive Officer.
“Preparations were discussed for the upcoming ministerial meeting scheduled for late November in Bucharest, where partner states will evaluate progress achieved and formalize the next implementation phase. The Board outlined key measures to finalize project financing, including continued engagement with prospective investors and banking syndicates,” the release noted.
The Caspian–Black Sea–Europe Green Energy Corridor is a flagship cross-border power transmission project joining Azerbaijan, Georgia, Romania, and Hungary. The initiative originates from the Strategic Partnership Agreement signed in Bucharest on December 17, 2022, alongside the European Commission.
The technical scope entails establishing a green power corridor with a cumulative capacity of 3.9 gigawatts (GW), comprised of three dedicated subsea and terrestrial interconnectors rated at 1.3 GW each.
Project development is managed by GECO, a Bucharest-registered joint venture owned equally by the national transmission system operators of the four participating countries.
An equal 25% equity stake is held by “AzerEnerji” JSC (Azerbaijan), Georgian State Electrosystem (Georgia), Transelectrica (Romania), and MVM Group (Hungary).
The corridor has been officially incorporated into the European Network of Transmission System Operators for Electricity (ENTSO-E) Ten-Year Network Development Plan (TYNDP) for 2026 under project IDs 1248 and 1244.
Total capital expenditure is estimated at €22 billion, allocating €14.3 billion toward power grid and subsea cable transmission infrastructure and €7.8 billion toward renewable power generation capacity.
The energy corridor is targeted to reach full operational transmission throughput by 2040.
The key findings of the project’s feasibility study were formally unveiled in Baku on October 22, 2026.
