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Wednesday
04 Sep 2024

Four States Form Venture for Interconnector to Azeri Windfarms

04 Sep 2024  by reuters   

Romanian Energy Minister Sebastian Burduja delivers a keynote address during the opening event of the fifth meeting of the Partnership for Transatlantic Energy and Climate Cooperation (P-TECC) in Bucharest, Romania, July 23, 2024. Inquam Photos/Octav Ganea via REUTERS/File Photo Purchase Licensing Rights
Azerbaijan, Georgia, Romania and Hungary formed a joint venture company on Tuesday to eventually build a subsea interconnector across the Black Sea linking planned Azeri windfarms to Europe.

Green Energy Corridor Power Company will be headquartered in the Romanian capital Bucharest and oversee the building of a 1,100 km (685 mile), 1,000 megawatt cable running from Azerbaijan to Romania as part of wider European Union efforts to diversify energy resources away from Russia amid the Ukraine war.

"This energy infrastructure project will …interconnect energy markets from the Black Sea region, ensuring supply diversification," Romanian Energy Minister Sebastian Burduja told a news conference.

Earlier he met with Azeri Energy Minister Parviz Shahbazov, Georgian Economy Minister Levan Davitashvili and Hungarian Foreign Minister Peter Szijjarto.

The European Commission will make funds available for the construction of the cable, which would be the longest of its kind in the world.

Bulgaria may also join the joint venture, Burduja said.

Italian consulting firm CESI has been contracted to conduct a feasibility study, with preliminary findings to be reported at the United Nations COP29 climate summit to be hosted by Azerbaijan in November.

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