The feasibility study for the Black Sea submarine cable project will be ready in the next two months, Azerbaijani President Ilham Aliyev said on Wednesday, Interfax reports.

“The feasibility study for building a submarine cable from Azerbaijan to Europe via the Black Sea will be completed in the coming weeks or months,” Aliyev said in an interview with Russian television channel RBC, according to Agerpres.

According to Aliyev, the cable will be able to export 4 gigawatts of energy in the first phase, compared to 1 GW as initially stated.

“However, given the energy needs of European countries, even if they also invest a lot, we know that they will still be in a deficit position, so they will need additional sources of green energy,” Aliyev said.

On December 17, 2022, the governments of Azerbaijan, Georgia, Romania and Hungary signed a Strategic Partnership in the field of development and transport of green energy in Bucharest, the document assuming the construction of a submarine cable for the transport of electricity through the Black Sea.

In early September 2024, CNTEE Transelectrica, Georgian State Electrosystem, AzerEnerji and MVM Electrical Works signed the articles of association of the project company Green Energy Corridor Power Company, based in Romania, which will implement the “Green Corridor” project, namely a submarine high-voltage direct current cable, which will connect, through the Black Sea, Romania and Georgia, the connection being extended to Hungary and Azerbaijan.

The works for the installation of the cable are expected to last three to four years and the estimated cost of the project is 3.5 billion euros. The European Commission intends to support this project with 2.3 billion euros.