On September 3, Romania hosted a meeting of representatives from Romania, Hungary, Georgia and Azerbaijan, together with representatives from Bulgaria and the European Commission, within which were laid the foundations of the joint project company, Green Energy Corridor Power Company, based in Romania, which will implement the Green Corridor project, initiated in 2022.
A high voltage submarine cable will connect, through the Black Sea, Romania and Georgia, with an extension in Hungary and Azerbaijan, with the aim of consolidating energy security, increasing connectivity in the Black Sea basin, diversifying supply sources, harnessing the potential for renewable energy production and increasing share of renewable energy in the energy mix, and is meant to bring more renewable energy to the European Union from the Eastern Caucasus. The energy will be generated in wind farms in the Caspian Sea, by the members of this consortium.
The project also provides for studying the possibility of an optical fiber cable that will connect the 4 countries. It is supported by the European Commission, with European legislation taking precedence over the provisions of the agreement. The possibility of Bulgaria joining the feasibility study and the infrastructure project was also discussed.
The Minister of Energy, Sebastian Ioan Burduja, declared:
“This energy infrastructure project is of major importance for Romania, for the region and for the European Union. It will interconnect the energy markets in the Black Sea area, ensuring the diversity of supply sources. The diversity of supply sources primarily leads to the strengthening of energy security and the reduction of energy prices for all consumers. At the same time, the project will contribute to the decarbonization of the energy sector, considering the fact that it will mainly transport energy from renewable sources. There are many complementarities between our countries, which leads us to this joint effort to build a far-reaching project that we all need.”
Azerbaijan’s Energy Minister Parviz Shahbazov said harnessing renewable energy will help address climate change issues and energy security. “But at the same time, it will provide green energy… which is very important on the agenda of the international community”.Ministrul Energiei din Azerbaidjan, Parviz Shahbazov, a declarat că valorificarea energiei regenerabile va ajuta la abordarea problemelor legate de schimbările climatice și pentru securitatea energetică. ”Dar, în același timp, va oferi energie verde… care este foarte importantă pe agenda comunității internaționale”.
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