The Feasibility Study phase of the Caspian–Black Sea–Europe Green Energy Corridor Project has been completed.
Renewables.az informs that the project has officially entered the next stage of development.
The announcement was made today at the 12th Ministerial/Steering Committee Meeting was held in Baku within the framework of the implementation of the Agreement among the Governments of the Republic of Azerbaijan, Georgia, Hungary and Romania on Strategic Partnership in the Field of Green Energy Development and Transmission.”
During the meeting, progress on the Caspian-Black Sea-Europe Green Energy Corridor project was reviewed. Participants heard a presentation by CESI S.p.A. on the final results of the project's Feasibility Study (FS). The presentation outlined the outcomes of market simulations and cost-benefit analysis, energy system integration, route studies, business model assessment, as well as the project's conceptual design, implementation plan, and procurement strategy. In addition, the Green Energy Corridor Power Company (GECO) presented a report on the current implementation status of the project and its future development following the completion of the feasibility study. Project financing issues, as well as regional developments in the field of renewable energy, were also reviewed.
It should be recalled that the Agreement between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary on Strategic Partnership in the Field of Green Energy Development and Transmission was signed in Bucharest on 17 December 2022.
