The 10th session of the Ministerial/Steering Committee for the implementation of the “Strategic Partnership Agreement on the Development and Transmission of Green Energy between the Governments of the Republic of Azerbaijan, Georgia, Romania, and Hungary” took place in Budapest.
According to the Ministry of Energy, Azerbaijan was represented at the event by Energy Minister Parviz Shahbazov, Hungary by Minister of Foreign Affairs and Trade Péter Szijjártó, Georgia by First Deputy Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili, Romania by Energy Minister Sebastian-Ioan Burduja, and Bulgaria by Energy Minister Zhecho Stankov. Representatives from the European Commission, the joint venture GECO Power Company, and CESI also attended the meeting.
The parties reviewed the development of Azerbaijan’s renewable energy potential, the advancement and prospects of the “Caspian-Black Sea-Europe Green Energy Corridor” project, and issues related to the activities of the Green Energy Corridor Energy Company (GECO). Discussions also covered Bulgaria’s participation in the project, the current status of the technical and economic feasibility study (TEO) conducted by CESI, and cooperation with the European Union (EU) on project financing.
Energy Minister Parviz Shahbazov noted that work is underway on contractual documents with several international wind energy companies in four designated areas in the Azerbaijani segment of the Caspian Sea, and these agreements will also support plans for the development of green hydrogen. He proposed recommendations for research on project components related to electricity production and transmission, business models, and the distribution of potential volumes of green energy from the Caspian Sea across the region. In close cooperation with GECO and CESI, it was suggested to establish two working streams within the working group: “The first stream can focus on project business models and carry out preparatory work to establish contacts with potential investors and buyers, while the second stream will address technical details, compliance with ENTSO-E requirements, and other relevant institutions.”
The Minister emphasized the importance of taking decisive steps to include the fiber-optic component of the project in the scope of the TEO work.
Following discussions, the ministers of the four countries signed a Protocol summarizing the meeting’s outcomes and a “Joint Letter of Azerbaijan, Georgia, Romania, and Hungary to European Commissioner for Energy Dan Jørgensen.” The purpose of the letter is to provide appropriate support for granting the status of a Project of Common Interest (PCI) to the “Caspian-Black Sea-Europe Green Energy Corridor” project. It was decided that the corresponding application for the project’s inclusion in the EU Ten-Year Network Development Plan (TYNDP) will be submitted by Transelectrica, the electricity transmission system operator, between April 1 and May 9, 2025, with the entire process jointly monitored with GECO.
Additionally, an agreement was reached to initiate the process of Bulgaria’s accession to the Intergovernmental Agreement. The joint venture was granted the necessary authority to include Bulgaria in the project and to address issues related to the fiber-optic cable component within the framework of the TEO work. During the meeting, a document was signed transferring GECO’s main powers and obligations under the contract between the Ministry of Energy and CESI.
The parties agreed to hold the next ministerial meeting in Georgia. The session concluded with a briefing on the outcomes of the Budapest ministerial meeting.
