A Memorandum Was Signed on the Establishment of a Joint Venture of Four Countries Implementing the Black Sea Submarine Cable Project

In accordance with the decision of the 7th ministerial meeting held in Georgia on May 15, 2024, within the framework of the "Agreement on Strategic Partnership in the field of the Green Energy Development and Transmission", Zviad Gachechiladze, a member of the board of directors of Georgian State Electrosystem, signed a memorandum of cooperation with the Electricity Transmission System Operators of Azerbaijan, Hungary, and Romania.
The document establishes a common cooperation framework to initiate the necessary procedures for creating a joint venture in Bucharest, which will facilitate the future implementation of the "Green Energy Corridor" project.
During the meeting, they discussed procedural and technical details regarding the creation of a joint venture within the framework of strategic cooperation among four countries.
The Green Energy Corridor project aims renewable energy transition from Georgia to Eastern and Central Europe by building transmission infrastructure such as the Black Sea Submarine Cable.