A ministerial meeting was held in the capital of Georgia, Tbilisi, for the implementation of the Agreement on Strategic Partnership in the Development and Transmission of Green Energy between Azerbaijan, Georgia, Hungary, and Romania.
The 11th meeting of the Ministers/Steering Committee was convened for this purpose. Azerbaijan was represented by the Minister of Energy, Parviz Shahbazov; Georgia by the Minister of Economy and Sustainable Development, Mariam Kvrivishvili; Hungary by Boglárka Illés, State Secretary of the Ministry of Foreign Affairs and Trade; and Romania by Cristian Bușoi, State Secretary of the Ministry of Energy. The meeting was also attended by representatives from Bulgaria, the Green Energy Corridor Energy Company (GECO), CESI, and electricity companies from the four countries.
During the meeting, the implementation status of the Caspian–Black Sea–Europe Green Energy Corridor project, the technical-economic justification (TEJ), and plans for the next phase, including business models, project connection schemes, the fibre-optic cable (FOC) component, Bulgaria’s integration into the project, the attraction of foreign investment, and cooperation with the EU in financing were discussed.
Presentations by the Green Energy Corridor Energy Company (GECO) and CESI were reviewed, along with progress on the Black Sea Submarine Cable project. The meeting also featured an exchange of views on recent developments in the region’s renewable energy sector and future cooperation opportunities.
Minister of Energy Parviz Shahbazov noted that the final stages of the feasibility study, including market, transmission, and route analysis, as well as financial modelling, are expected to be completed by early 2026. The European Network of Transmission System Operators for Electricity (ENTSO-E) has included the Green Energy Corridor project in the preliminary list of the next Ten-Year Network Development Plan (TYNDP), which provides an opportunity for the project to gain EU Project of Common Interest (PCI) status.
The Minister proposed that the Green Energy Corridor Energy Company (GECO) be given the mandate to sign a contract with CESI for the fibre-optic cable component of the project, and also suggested exploring strategic and technical synergies between the energy corridor extending from the Caspian Sea to Europe and the Black Sea Submarine Cable project.
As a result of the discussions, CESI was tasked with completing the feasibility study no later than the end of March. GECO was tasked with determining the development models for the project following the feasibility study, initiating active negotiations with partners, potential investors, equipment suppliers, and manufacturers, and ensuring close coordination for aligning technical, legal, and financial approaches to ensure the progress of the project.
Additionally, Azerbaijan’s proposal regarding the Black Sea Submarine Cable project and the Green Energy Corridor was accepted, highlighting that the two projects are interconnected and fully aligned with the concept of the agreement. It was agreed to explore and develop synergies between the two projects to enhance cross-border transmission capacity and regional energy connectivity. For this purpose, a Working Group consisting of deputy ministers and GECO representatives was tasked with preparing an overall approach to additional coordination measures and presenting it at the next meeting.
Furthermore, the countries reaffirmed their readiness to initiate the legal procedures for Bulgaria’s accession to the agreement and inclusion in GECO. It was agreed that work with the European Network of Transmission System Operators for Electricity (ENTSO-E) and the European Commission would continue to align the project with EU priorities.
The meeting concluded with the signing of a protocol by the energy ministers of the four countries.
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