Black Sea Energy cable gains momentum as Azerbaijan, Romania, Georgia, Hungary seek EU support PHOTO

Azerbaijan, Georgia, Hungary, and Romania have formally requested the European Union to grant Project of Mutual Interest (PMI) status to the Black Sea Energy cable project, which aims to enhance green energy transmission across Europe.

The joint initiative was communicated in a letter to EU Commissioner for Energy Dan Jørgensen, according to Azerbaijani Energy Minister Perviz Shahbazov’s post on social media platform X, Caliber.Az reports.

#Azərbaycan, #Gürcüstan, #Rumıniya və #Macarıstan arasında “yaşıl enerji” dəhlizinin yaradılması üzrə nazirlərin/Rəhbər Komitənin #Budapeşt görüşü mühüm nəticələrlə yekunlaşdı. Layihəyə PMI statusunun verilməsi məqsədilə “Azərbaycan, Gürcüstan, Rumıniya və Macarıstanın Avropa… pic.twitter.com/1kbUiE4nOZ

— Parviz Shahbazov (@ParvizShahbazov) March 10, 2025

The minister highlighted the positive outcomes of a recent meeting held by the ministers and steering committee overseeing the creation of a green energy corridor connecting Azerbaijan, Georgia, Hungary, and Romania.

"A joint letter from Azerbaijan, Georgia, Romania, and Hungary to EU Energy Commissioner Dan Jørgensen requesting PMI status for the project has been signed," Shahbazov said in his update.

"The letter also details the next steps for including the project in the EU Ten-Year Network Development Plan (TYNDP), Bulgaria's potential accession, and the integration of a fibre optic cable component."

The minister further noted that during the meeting, a document was signed to transfer authority and responsibility for the project's feasibility study to the joint venture, GECO Power Company. This venture is a collaboration between energy operators from the four countries: Transelectrica (Romania), Georgian State Electrosystem (Georgia), Azerenerji (Azerbaijan), and MVM Energy (Hungary).

The Black Sea Energy project, which will involve the construction of a 1,195 km submarine cable across the Black Sea, aims to export 4 gigawatts (GW) of green energy, primarily sourced from renewable resources. The project was officially launched on December 17, 2022, with the signing of a strategic partnership agreement between the four founding nations. In June 2023, Bulgaria announced its intention to join the initiative, further strengthening regional cooperation on energy security.

In May 2024, energy operators from Azerbaijan, Romania, Georgia, and Hungary formalized their collaboration through a memorandum to establish a joint venture for the Black Sea Energy project. This was followed by the signing of a shareholder agreement in September 2024, marking the formal creation of the Green Energy Corridor joint venture, which will manage the implementation of the cable project.

The total estimated cost of the Black Sea Energy Cable is €3.5 billion, with the European Commission planning to allocate €2.3 billion towards its development. The construction of the cable is expected to take 3 to 4 years, promising a significant boost to the EU's energy infrastructure and its transition to renewable energy sources.

By Vafa Guliyeva