Technical work on the implementation of the Azerbaijan-Georgia-Türkiye-Bulgaria green energy corridor will start this week in Sofia, Report informs referring to Bulgaria's Energy Ministry.
"This week in Bulgaria, technical work will begin on creating a green energy corridor, the memorandum for which was signed by four countries in Baku. Deputy ministers from relevant ministries and energy operators are going to meet in Sofia to begin work on the new energy corridor," the ministry notes.
The Bulgarian Ministry of Energy clarified that with the signing of the Memorandum, the ministers of the four countries agreed to immediately form a working group at the level of deputy ministers.
"The technical details of the beginning of the feasibility study development process should be clarified by June. The first investments will be directed to the most efficient use of existing capacities," the ministry said.
Earlier, the energy ministers of Azerbaijan, Georgia, Türkiye and Bulgaria signed a Memorandum of Cooperation in the field of green energy on April 4, thereby launching the process of creating a new green energy corridor. The document was signed within the 11th Southern Gas Corridor Advisory Council Ministerial Meeting and the 3rd Green Energy Advisory Council Ministerial Meeting.
According to the document, the energy ministries of the four countries will promote strengthening cooperation between the public and private sectors to explore opportunities for modernizing energy systems and implementing joint investment projects aimed at expanding electricity transmission and trading capabilities.
The memorandum provides for the improvement of energy infrastructure and measures to stimulate the use of renewable energy sources.
