The “Green Energy Corridor Power Company” (“GECO Power”) joint venture and the Italian consulting company CESI have determined the next steps for the implementation of the “Green Energy Corridor” (“Black Sea Energy”) project.
Sea-news.az reports that the companies held a special consultation meeting on “Workstream 2” dedicated to the key measures necessary for the transition from the feasibility study phase to the project development stage, with the participation of representatives from the project’s technical and economic working groups.
During the discussions, key technical, economic, and organizational aspects of the next phase were reviewed, including approaches to the development and procurement strategy, as well as the coordination of upcoming measures among participating countries and project partners.
“GECO Power” emphasized that “Workstream 2” will be an important milestone for transforming its results into a structured development program and defining the future path for the implementation of the “Green Energy Corridor” project.
Recall that the implementation of this project is envisaged within the framework of the strategic partnership agreement on the development and transmission of “green energy” signed between Azerbaijan, Georgia, Romania, and Hungary in Bucharest in 2022. The mentioned document was an important step towards the creation of the “Green Energy Corridor” in the European direction.
The joint venture for the Caspian-Black Sea-Europe “green corridor” project was established based on the memorandum of understanding signed between Georgia, Hungary, Romania, and Azerbaijan on July 25, 2023. The Black Sea submarine cable project will ensure the direct connection of Georgia and Romania and is the largest infrastructure initiative connecting the energy systems of the South Caucasus and Southeast Europe.
The length of the submarine cable will be 1,115 km underwater and 40 km overland, with a voltage of 525 kV and a transmission capacity of 1,300 MW. The construction of the underwater power cable crossing the Black Sea is planned to be completed in 2032. The project has been included in the European Union’s “Projects of Mutual Interest” (PMI) list. The European Commission intends to allocate 2.3 billion euros for its implementation.
