The eleventh Ministerial/Steering Committee Meeting on the implementation of the Agreement on a strategic partnership in the field of green energy development and transmission between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary was held in Tbilisi, Georgia. Azerbaijan was represented at the event by the Minister of Energy Parviz Shahbazov, Georgia by Economy and Sustainable Development Minister Mariam Kvrivishvili, Hungary by State Secretary of Ministry of Energy Boglarka Illes, Romania by State Secretary of the Ministry of Energy Cristian Busoi. The meeting was also attended by representatives of Bulgaria, Green Energy Corridor Power Company (GECO), CESI and electric power companies from four countries.
The parties discussed the implementation status of the Caspian-Black Sea-European Green Energy Corridor project, feasibility studies and plans for the next stage, business models, project connection schemes, fiber-optic cable (FOC) component, Bulgaria's accession to the project, attracting foreign investment, as well as cooperation with the EU in the field of financing. The presentations by GECO and CESI, as well as the progress of the Black Sea Submarine Cable project, were considered. The sides exchanged views on the latest innovations and future cooperation opportunities in the field of renewable energy in the region.
The Minister of Energy Parviz Shahbazov stated that they expected the completion of the remaining phase of feasibility studies on the project, including market, transmission and route analysis, as well as financial modeling, by early 2026. The European Network of Transmission System Operators (ENTSO-E) has included the Green Energy Corridor project in the preliminary list of the next Ten-Year Network Development Plan (TYNDP). Inclusion in the TYNDP list allows the project to achieve PCI/PMI (Projects of Common Interest and Projects of Mutual Interest) status. The Minister proposed to authorize the Green Energy Corridor Power Company (GECO) to sign an agreement with CESI on the fiber-optic cable component of the project, as well as to investigate strategic and technical synergies between the Energy Corridor stretching from the Caspian to Europe and the Black Sea Submarine Cable project and prepare recommendations.
As a result of the discussions, CESI was instructed to complete the feasibility study by the end of February at the latest. GECO, on the other hand, was tasked with defining project development models in the post-feasibility study, initiating active negotiations with partners, potential investors, equipment suppliers and manufacturers, as well as maintaining close coordination in order to harmonize technical, legal and financial approaches to ensure the progress of the project.
Also, Azerbaijan's proposal on the Black Sea Submarine Cable project and the Green Energy Corridor was accepted, emphasizing that the projects are interconnected and fully comply with the concept of the agreement. It was agreed to investigate and develop synergies between the two projects to increase cross-border transmission capacity and regional energy connectivity. To this end, the Working Group, consisting of deputy ministers and representatives of the GECO, was instructed to develop a general approach to additional coordination measures and present them at the next meeting.
In addition, it was reaffirmed by the countries that they are ready to initiate legal procedures for Bulgaria to join the agreement and enter the GECO. It was decided to carry out the work by Transelectrica and GECO in order to continue cooperation with ENTSO-E and the European Commission and bring the project in line with EU priorities.
The Ministers of four countries signed a protocol on the results of the meeting.
