A new cooperation was formed for green energy transmission

Bulgaria, Azerbaijan, Türkiye and Georgia signed a Memorandum of Understanding on Cooperation in Green Energy Transmission and Trade in Baku. The document outlines the framework for enhanced cooperation in the energy transition, the development of renewable energy sources (RES), and the construction of sustainable energy infrastructure.

The parties reaffirmed their commitment to work together to promote joint green electricity projects, develop the necessary infrastructure, enhance the exchange of knowledge and improve interconnection by facilitating cooperation between the public and private sectors.

Among the key aspects of the agreement is the expansion of stable interregional cooperation through the development of green energy zones and corridors, which will contribute not only to the security of energy supply but also to the sustainable economic development of the region.

The ministers agreed to immediately form a working group at the level of deputy ministers. The technical details for commissioning feasibility studies are to be specified by June. The first investments will focus on the most efficient use of existing capacity.

“The signing of this document is an important step towards strengthening regional cooperation in the field of green energy,” said Bulgarian Energy Minister Zhecho Stankov. “By developing strategic energy corridors and implementing innovations in renewable energy, we will not only increase our energy security, but also create new opportunities for sustainable economic growth.”

“Ensuring national, regional and international energy security is a key element in the transition to the sustainable development of the sector, along with the expansion of energy infrastructure, the development of storage technologies, and the digitalisation of the sector,” the Minister said earlier to participants of the 11th Ministerial Meeting of the Southern Gas Corridor Advisory Council, held in Baku.

Earlier in March, Azerbaijan, Bulgaria, Georgia, Romania and Hungary discussed the construction of the world’s longest undersea power line, which will deliver green electricity from the Caspian Sea region to Central Europe.