Azerbaijan, Georgia, Hungary and Romania are discussing energy cooperation in the framework of the Green Corridor Project, aimed at strengthening national and regional energy security, increasing connectivity in the Black Sea basin, diversifying supply sources, capitalising on the renewable energy production potential and increasing the share of renewable energy in the national energy mixes.
The main project would consist in a 1,100 km-long power interconnection stretching from Azerbaijan to Georgia, Bulgaria (which is supporting the project) and Romania, worth €10bn, and which could transmit 4 GW. Romania and Hungary are promoting the inclusion of the project in the development plan of the European electricity transmission network (Ten-Year Network Development Plan, TYNDP).
Meanwhile, Romania has secured a €30m commitment from the European Investment Bank (EIB) for the 400 MW Pestera II onshore wind project near Constanta. The €500m project is co-financed by Copenhagen Infrastructure Partners (CIP). Construction will start in 2025.
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