The 9th Ministerial Meeting on green energy development and transmission was held

Within the COP29 event hosted by Azerbaijan, a meeting of the 9th Ministerial Meeting/Steering Committee was held to implement the Agreement on Strategic Partnership in the Development and Transmission of Green Energy among Azerbaijan, Georgia, Hungary and Romania. Azerbaijan was represented by Energy Minister Parviz Shahbazov, Romania by Energy Minister Sebastian-Ioan Burduja, Georgia by First Deputy Prime Minister and Minister of Economy and Sustainable Development Levan Davitashvili, and Hungary by State Secretary for Security Policy and Energy Security, Ministry of Foreign Affairs and Trade Péter Sztáray. The meeting was attended by Bulgarian Energy Minister Vladimir Malinov, Director of Energy Policy at European Commission Christina Lobillo Borrero, CEO of CESI Nicola Melchiotti, Vice-President of the European Bank for Reconstruction and Development (EBRD) Mark Bowman, officials of the European Investment Bank (EIB) Wind Europe, as well as representatives of transmission system operators.

At the meeting, a report reflecting the preliminary results of the feasibility study conducted by CESI on the Green Energy Corridor project was presented.  Data on demand and production forecasts for renewable energy and green hydrogen, technologies, technical and economic potential of interconnectors were brought to the attention. Preliminary analysis on the generation and transmission of green electricity and hydrogen infrastructure was shared. In his speech, Minister of Energy Parviz Shahbazov emphasized that the green energy corridor is one of the COP initiatives of Azerbaijan and called on the project members to support this initiative. The Minister said that the preliminary results of the feasibility study make it necessary to start discussions on potential business models for the project, as well as clear and long-term plans on supply and demand. The Minister proposed to hold a meeting of the Expert Group on the fiber-optic component of the project soon.

During the discussions, it was recommended that the consultant continue to cooperate with the parties for the successful completion of the feasibility study. The EBRD and EIB's interest in the project and the possibility of cooperation after the completion of the feasibility study were underlined. The progress made on the Green Energy Corridor initiative among Azerbaijan, Kazakhstan and Uzbekistan was highly appreciated. The intention to strengthen regional energy security, green energy transition and coordination among the regions of Central Asia, Caspian Sea and Black Sea was once again expressed.

The work on the preparation of the action plan of the newly established joint venture was also discussed. In accordance with the decision adopted at the 8th Ministerial Meeting, adviser to the Minister of Energy Farhad Mammadov was appointed as Director General of the Joint Venture. In conclusion, it was agreed to soon finalize legal issues on the activities of the Joint Venture. It was agreed to start the necessary procedures in connection with Bulgaria's accession to the agreement based on the country's interest and the decisions of previous meetings of the ministers. A protocol was signed on the outcomes of the meeting.

It should be noted that the Agreement on Strategic Partnership between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary in the field of Development and Transmission of Green Energy was signed on 17 December 2022 in Bucharest.