Joint Venture Established to Manage the Black Sea Submarine Cable
A joint venture has been established to oversee the management of the Black Sea Submarine Cable project. The company, named "Black Sea Energy," was officially registered in Romania and will be responsible for the development, operation, and maintenance of the submarine electricity transmission cable connecting the South Caucasus to Europe.
This initiative is a key component of the Green Energy Corridor, aimed at enhancing energy security and diversifying energy supply routes in the region. The project is expected to facilitate the integration of renewable energy sources from the South Caucasus into the European grid, supporting the transition to sustainable energy.
The establishment of the joint venture follows the signing of the Strategic Partnership Agreement between Azerbaijan, Georgia, Romania, and Hungary in December 2022, which laid the foundation for cross-border electricity exchange. The Black Sea Submarine Cable will have a transmission capacity of 1,000 MW and is planned to stretch approximately 1,195 km across the Black Sea.
The project aligns with the European Union’s energy diversification strategy and reinforces Azerbaijan’s role as a key energy partner in the region. The newly established company will coordinate efforts among stakeholders, ensure regulatory compliance, and oversee the technical implementation of the submarine cable.
The Black Sea Energy project marks a significant step towards strengthening regional energy cooperation and expanding green energy exports to Europe.
https://report.az/energetika/qara-deniz-sualti-kabelini-idare-edecek-birge-muessisesi-yaradilib/