Bulgarian caretaker Minister of Energy Vladimir Malinov has reaffirmed Bulgaria’s commitment to joining the Green Energy Corridor, a regional initiative focused on constructing a submarine cable to transport renewable electricity from the South Caucasus to Europe via the Black Sea.
In September, Azerbaijan, Georgia, Romania, and Hungary agreed to establish the Green Energy Corridor Power Company, a joint venture to advance the project. At a recent meeting with ministers from these countries on the sidelines of the COP29 climate summit in Azerbaijan, Minister Malinov confirmed Bulgaria’s intention to join the initiative. The current members expressed their support and readiness to begin the process of including Bulgaria in the partnership.
Minister Malinov emphasized the importance of security, cooperation, and coordination, as well as securing adequate financing to establish cross-border green energy corridors. He underscored that Bulgaria has supported the Green Energy Corridor from its inception, viewing it as a strategic initiative to enhance both regional and national energy security.
Earlier in September, Romanian Transelectrica, Georgian Electrosystem, AzerEnerji from Azerbaijan, and Hungarian MVM signed a joint venture agreement after completing a feasibility study. The study confirmed that the proposed Black Sea submarine cable project is both technically and economically viable. The project plans to connect Romania to Georgia with a high-voltage direct current (HVDC) underwater cable, with further connections extending to Hungary and Azerbaijan.
