Green Forum • 3 September, 2024 at 9:38 PM
The Romanian Power Transmission Company, Transelectrica has signed with Georgian State Electrosystems, AzerEnerji, and MVM Electrical Works the shareholders' agreement for the Green Energy Corridor Power Company.
This project company, headquartered in Romania, will oversee the Green Corridor project, which involves constructing a high-voltage direct current underwater cable connecting Romania to Georgia through the Black Sea, with further connections extending to Hungary and Azerbaijan.
This project is crucial for enhancing national and regional energy security, increasing connectivity in the Black Sea region, diversifying energy supply sources, boosting renewable energy production potential, and raising the share of renewables in the national energy mix.
The shareholders' agreement was signed by the Company to implement the Agreement between the Governments of Azerbaijan, Georgia, Romania, and Hungary on the Strategic Partnership in Green Energy Transmission and Development, as part of the Green Energy Corridor project. This follows the Memorandum of Understanding signed on May 27, 2024, in Bucharest.