Black Sea Energy cable talks set for late November

Talks on the progress of the Black Sea Energy Cables green energy corridor will take place in late November, the newly appointed Executive Director of the Green Energy Corridor Power Operating Company (GECO), Yusif Gayibov, announced during the German-Azerbaijan connectivity conference in Baku.

He stated that the joint operating venture has been functioning since 2024 to advance the route supplying renewable power from Azerbaijan through Georgia and the Black Sea bed to Romania, Hungary, and Bulgaria, with the upcoming late-November ministerial session marking the 13th high-level coordination round.

Gayibov stressed that because the initiative involves multiple state actors, broad financial backing—including international financial institutions, commercial banks, and private equity—will be essential to disperse capital risks effectively.

The strategic interconnect project is engineered to transmit up to 4 gigawatts of green power from the Caspian basin to the European Union. With capital expenditure estimated to exceed 10 billion euros, commercial transmission operations are scheduled to commence in 2032.

N.Tebrizli