The fifth Ministerial Meeting on the green energy development and transmission project was held in Budapest

The fifth Ministerial Meeting on the implementation of the Agreement on a strategic partnership in the field of green energy development and transmission between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary was held in Budapest, Hungary.

Azerbaijan was represented at the event by Energy Minister Parviz Shahbazov, Hungary by Minister of Foreign Affairs and Trade Peter Szijjarto, Georgia by Deputy Prime Minister, the Minister of Economy and Sustainable Development Levan Davitashvili, Romania by Energy Minister Sebastian Burduja. The representatives of Bulgaria, the European Commission, transmission system operators of 4 countries and CESI company also attended at the meeting.

Minister of Energy Parviz Shahbazov spoke about the current status of realization of renewable energy potential in Azerbaijan and development of the Caspian-Black Sea-European Green Energy Corridor project . The Minister stressed the importance of accelerating the implementation of this strategic project, which directs the green energy potential of the Caspian Sea through routes connecting several countries and two seas to strengthening supply security in Europe and the transition to clean energy. It was noted that about a year ago, our countries took a common position and confirmed their readiness for close cooperation on the Green Energy Corridor Initiative at the highest level with the testimony of the European Union: “This project is an integral part of Azerbaijan's plans to become a supplier of green energy. With this corridor, offshore sectors were identified, land areas were allocated and further processes were started to export green energy in the amount of 4 GW. In order for our green energy partnership to achieve its goal, closely coordinated activities should be carried out in the direction of the energy production from renewable sources, transmission and sale of this energy.”

During the discussions, issues such as the prospects of the corridor in countries, Bulgaria's accession to the project, the possibility of financing the project by the European Union, the activities of CESI consulting company on the Black Sea submarine cable project between Georgia and Romania, and the study of the contribution of fiber-optic cable to the corridor were considered.

At the meeting, the tender for the selection of a consulting company for the preparation of the feasibility study of the corridor was positively appreciated and the intention to start the feasibility study immediately after the successful completion of the tender process was expressed.  Emphasizing the importance of creating a joint venture soon, an agreement was reached to hold a meeting of transmission system operators of 4 countries in Baku in December in order to agree on the issues arising from this process, as well as to start processes related to Bulgaria's accession to the project. In addition, the meeting between Azerbaijan, Kazakhstan and Uzbekistan held in Baku in November this year and the intention of Central Asian countries to exchange green energy with Europe through the Green Energy Corridor were appreciated.

A protocol was signed on the outcomes of the meeting and it was decided to hold the next meeting.in Georgia next year. Also, Memorandum of Understanding on cooperation in the field of green energy between the relevant Ministries of Azerbaijan, Georgia, Romania and Hungary was signed, and an agreement was reached to establish the green energy platform.

At the end, a press conference was held on the outcomes of the fifth Ministerial Meeting on the implementation of the Agreement on a strategic partnership in the field of green energy development and transmission between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary.