The National Electric Energy Transport Company Transelectrica and transmission system operators (OTS) Georgian State Electroystems (Georgia), AzerEnerji (Azerbaijan) and MVM Electrical Works (Hungary) signed the shareholders’ agreement of the project company (of Joint Venture type) “Green Energy Corridor Power Company”, based in Romania. The signing of the agreement took place on the sidelines of the 8th Ministerial Meeting held at the Victoria Palace.
This company will aim to implement the Green Energy Corridor project, namely a direct current high voltage submarine cable, which will connect, through the Black Sea, Romania and Georgia, the connection being extended in Hungary and Azerbaijan, Transelectrica announces.
The associates agreement was concluded in application of the Agreement between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary regarding the Strategic Partnership in the field of Green Energy Development and Transport, the Green Energy Corridor Project, as a result of the Memorandum of Understanding signed in Bucharest on May 27, 2024.
The document underlying the establishment of the Joint Venture company “Green Energy Corridor Power Company” was signed in the presence of ministers from the four member states of the Agreement between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary.
Ștefăniță Munteanu, President of the Directorate, and Bogdan Toncescu and Florin Tătaru, members of the Directorate, participated in the proceedings of the Ministerial Meeting and the signing ceremony of the JV shareholders’ agreement on behalf of Transelectrica.
The implementation of the Green Energy Corridor Project will significantly contribute to strengthening national and regional energy security, improving connectivity in the Black Sea area, diversifying supply sources, harnessing the potential of renewable energy production and increasing its share in the national energy mix.
By taking these steps, Romania adopts a long-term vision regarding the development of the energy field. The Green Energy Corridor is an essential project through which our country will become a pillar of energy stability and security in the region.
