Author: PPD Team Date: 12/03/2025
On Monday, the 10th Ministerial Meeting for the implementation of the Green Energy Corridor project took place in Budapest, with representatives from Azerbaijan, Georgia, Hungary, Romania, and Bulgaria in attendance.
This partnership of the five nations could lead to Europe’s largest green energy corridor.
The main focus of the meeting was the progress and prospects of the Caspian-Black Sea-European Green Energy Corridor. Key discussions included the development of Azerbaijan’s renewable energy potential, the Green Energy Corridor Power Company’s (GECO) activities, and Bulgaria’s future involvement in the project.
Azerbaijan’s Minister of Energy, Parviz Shahbazov, highlighted ongoing efforts with international wind energy companies to develop four sites in Azerbaijan’s Caspian Sea region. These agreements are expected to support the growth of green hydrogen production as part of broader green energy initiatives. Shahbazov also recommended creating two streams within the working group to streamline project development: one focusing on business models and investor relations, and another on technical specifications and regulatory compliance.
An important point raised during the meeting was the need to integrate a fiber-optic component into the feasibility study, which could enhance the project’s infrastructure and connectivity.
After the meeting, the four countries signed a Protocol on the meeting’s outcomes and a joint letter to the EU Commissioner for Energy, Dan Jorgensen. The letter aims to secure Project of Mutual Interest (PMI) status for the green energy project, which would boost its recognition and access to EU funding. Additionally, the transmission system operator Transelectrica will submit a request to include the project in the EU’s Ten-Year Network Development Plan (TYNDP) between April and May 2025.
The meeting also set the groundwork for Bulgaria’s entry into the Intergovernmental Agreement, with GECO being authorized to handle the necessary procedures and manage the fiber-optic cable component of the study.
The next Ministerial Meeting will take place in Georgia, continuing the momentum towards advancing the green energy corridor. The Agreement on Strategic Partnership between Azerbaijan, Georgia, Romania, and Hungary, signed in December 2022, lays the foundation for these ongoing efforts in green energy development.