German firm takes role in exporting Azerbaijani green energy to Europe

Germany’s Siemens Energy Global GmbH & Co. KG has joined the Green Energy Corridor Power Company (GECO) — a joint venture of Azerbaijan, Romania, Georgia, and Hungary — by signing a Memorandum of Understanding. 

The signing took place during the 2025 German-Azerbaijani Export Finance Conference, organised by the German-Azerbaijani Chamber of Commerce, Caliber.Az reports. 

According to the document, the cooperation will focus on the transmission of green energy using high-voltage direct current (HVDC) technology. 

In December 2022, Azerbaijan, Georgia, Romania, and Hungary signed a strategic partnership agreement to build the Black Sea Energy submarine power cable. Bulgaria later announced its intention to join the project, and in 2023, the Bulgarian Council of Ministers approved the participation of Bulgarian Energy Holding EAD in the joint venture. 

In May 2024, energy operators from Azerbaijan, Romania, Georgia, and Hungary — Azərenerji JSC, Transelectrica SA, Georgian State Electrosystem, and MVM — signed a memorandum to establish a joint venture, followed by a shareholder agreement in September to officially found GECO. 

At the initial stage, the cable will be designed to export 4 GW of green energy. The project is valued at €3.5 billion and expected to take 3–4 years to complete. The European Commission plans to allocate €2.3 billion for its implementation.

By Khagan Isayev