The 6th Board of Directors Meeting of Green Energy Corridor Power Company (GECO) was held in Constanța, Romania, marking another important milestone in the development of the Caspian-Black Sea-Europe Green Energy Corridor Project.
Renewables.az reports that the company made the announcement.
The meeting followed the successful completion of the Project’s Feasibility Study, which was officially approved by the participating governments during the 12th Ministerial Meeting held in Baku. Following this achievement, the Project has entered the Development Phase.
During the meeting, the Board reviewed key priorities for the upcoming period, including the launch of Workstream 2, covering conceptual design, engineering activities and preparation of the procurement strategy.
The Company will also prepare alternative implementation scenarios for the Development Phase for consideration by shareholders, while strengthening engagement with international project developers, technology providers and financial institutions to support the next stage of the Project.
The Board also discussed the preparation of the seabed survey procurement procedure for the Project’s first cable, progress within the PMI/PCI application process, financial performance and cooperation with national regulatory authorities of the participating countries.
