Baku: The 12th Ministerial/Steering Committee Meeting on the implementation of the Agreement on Strategic Partnership in the Field of Green Energy Development and Transmission among Azerbaijan, Georgia, Hungary, and Romania was held in Baku. The meeting convened Azerbaijan’s Energy Minister Parviz Shahbazov, Georgia’s Minister of Economy and Sustainable Development Mariam Kvrivishvili, Romania’s State Secretary for Energy Cristian Bu?oi, Hungary’s State Secretary at the Ministry of Economy and Energy Andr¡s T³th, along with representatives from the European Union, Bulgaria, Italy, the Green Energy Corridor Power Company (GECO), CESI S.p.A., and the electricity transmission system operators of the partner countries. Additional participation came from the World Bank Group, the European Bank for Reconstruction and Development, and the Asian Development Bank.
According to Azerbaijan State News Agency, the participants assessed progress on the Caspian-Black Sea-Europe Green Energy Corridor project. CESI S.p.A. presented the final results of the project’s feasibility study, which included market simulations, cost-benefit analysis, energy system integration, route studies, business model assessment, conceptual design, implementation plan, and procurement strategy. GECO provided an update on the project’s implementation and outlined subsequent steps following the feasibility study’s completion. The meeting also examined project financing and regional developments in renewable energy.
Energy Minister Parviz Shahbazov addressed the gathering, highlighting that the project exemplifies the shared political will, strategic partnership, and mutual trust among the participating countries. He emphasized that the completion of the feasibility study signifies a shift from planning to the development and implementation phase. Shahbazov stated that Azerbaijan is enhancing its role as a producer, transmitter, and exporter of green energy, aligning with the strategic vision of President Ilham Aliyev. He noted that support from Ursula von der Leyen emphasizes the project’s strategic importance for Europe’s energy security and green transition.
The participants confirmed the successful completion of the feasibility study and the project’s progression to its next stage of development. GECO was assigned the task of preparing a comprehensive roadmap for activities leading up to the Final Investment Decision (FID). They also resolved to establish a dialogue among the national energy regulators of the participating countries to strengthen the project’s regulatory framework.
At the end of the meeting, participants signed a protocol summarizing its outcomes and a joint letter of support addressed to Dan J¸rgensen. This letter backed the project’s implementation and its inclusion in the third list of the European Union’s Projects of Mutual Interest (PMIs) and Projects of Common Interest (PCIs). The next Ministerial/Steering Committee Meeting is scheduled to take place in Romania in November.
The Agreement on Strategic Partnership in the Field of Green Energy Development and Transmission between Azerbaijan, Georgia, Romania, and Hungary was signed in Bucharest on December 17, 2022.