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Ulviyya Poladova

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A meeting on the Caspian-Black Sea-Europe Green Energy Corridor project is set to take place in Bucharest at the end of November.

According to a statement by Green Energy Corridor Company (GECO), which is responsible for developing the project, the company's Board of Directors has held its latest meeting to review progress and outline the next steps for implementation.

The Board reviewed the results of an investment forum held in Baku on October 22, which brought together potential investors, international financial institutions and partners. The strong interest shown in the project during the forum highlighted its strategic importance for regional energy security and the green transition, the company said.

Preparations for the next ministerial meeting, scheduled to take place in Bucharest at the end of November, were also discussed. At the meeting, the partner countries will review progress and agree on the next steps. The Board also outlined further measures to secure project financing, including continued engagement with investors and financial institutions.

The Caspian-Black Sea-Europe Green Energy Corridor is a cross-border electricity transmission project involving Azerbaijan, Georgia, Romania and Hungary. It was launched under a Strategic Partnership Agreement signed in Bucharest on December 17, 2022, in the presence of the European Commission.

The project envisages the creation of an energy corridor with a total capacity of 3.9 gigawatts (GW), comprising three transmission lines, each with a capacity of 1.3 GW.

Image: Natural Earth Data