GECO Power and CESI outline next steps for Black Sea energy project

The Green Energy Corridor Power Company (GECO Power) joint venture and Italian consulting company CESI have outlined the next steps for implementing the Green Energy Corridor (Black Sea Energy) project.

According to Report, citing GECO Power, the companies, together with representatives of the project"s Technical and Economic Working Groups, held a dedicated meeting on Workstream 2, focusing on the key activities required as the project moves from the Feasibility Study into the development phase.

The discussions addressed the main technical, economic and implementation aspects of the next stage, including approaches to the development strategy and procurement strategy, as well as coordination of upcoming activities among the participating countries and project partners.

GECO Power emphasized that Workstream 2 represents an important step towards translating the conclusions of the Feasibility Study into a structured development framework and defining the path towards implementation of the Green Energy Corridor.

The project is being implemented under the Agreement on Strategic Partnership in the Development and Transportation of Green Energy, signed by Azerbaijan, Georgia, Romania and Hungary in Bucharest in 2022. The document marked a significant step towards establishing a green energy corridor to Europe.

The joint venture for the Caspian–Black Sea–Europe Green Energy Corridor was established based on a memorandum of understanding signed by Georgia, Hungary, Romania and Azerbaijan on July 25, 2023. The Black Sea submarine cable project is a major infrastructure initiative that will directly connect Georgia and Romania and integrate the power systems of the South Caucasus and Southeast Europe.

The submarine cable will be 1,115 km long underwater and 40 km on land, with a voltage of 525 kV and a transmission capacity of 1,300 MW. The completion of the submarine power cable across the Black Sea is scheduled for 2032.

The project has been included in the European Union"s list of Projects of Mutual Interest (PMI). The European Commission plans to allocate €2.3 billion for its implementation.