The European Union is closely following the development of the high-voltage direct current bidirectional interconnector under the Black Sea, known as the Black Sea Energy project, which aims to supply green energy from Azerbaijan to Europe via Georgia and Romania, an EU official representative told Report.
“European Commission President Ursula von der Leyen attended the signing ceremony of the Memorandum of Understanding on a green energy partnership between Hungary, Romania, Georgia, and Azerbaijan in Bucharest in December 2022. The European Commission is participating as an observer in this significant initiative, which envisions a broader green energy corridor, including an ambitious undersea cable project and potential trade routes for hydrogen from renewable sources. We welcome the growing interest from other countries in joining this initiative,” the official stated.
“The Black Sea Energy project has been recognized as a flagship initiative under the EU Global Gateway strategy, unlocking opportunities for EU funding through our international cooperation instruments.
Additionally, in late 2024, project promoters submitted it as a candidate for Project of Mutual Interest under the EU’s cross-border energy infrastructure framework (TEN-E Regulation). We will now proceed with the necessary analyses and consultations as we prepare the next list of Projects of Common Interest and Projects of Mutual Interest. Receiving this status would make the project eligible for EU financial support through the Connecting Europe Facility,” the representative added.
The Black Sea Energy project is designed to transport green energy generated in Azerbaijan’s Caspian Sea sector to Georgia, and from there via a submarine cable across the Black Sea to Europe. The corridor is expected to export 4 GW of green energy annually.
The feasibility study is already in its final stage, and construction of the infrastructure is expected to take three to four years. The European Commission has allocated €2.3 billion for the project.
On December 17, 2022, Azerbaijan, Georgia, Romania, and Hungary signed a strategic partnership agreement in Bucharest to construct the 1,195 km Black Sea Energy underwater electric cable. In May 2024, energy operators from Azerbaijan, Romania, Georgia, and Hungary signed a memorandum to establish a joint venture for implementing the project. In June 2023, Bulgaria announced its intention to join, while Serbia and Moldova have also expressed interest in participating.
