The heads of government of Romania, Hungary, Georgia and Azerbaijan signed today in Bucharest in the presence of the President of the European Commission (EC), Ursula von der Leyen, an agreement for the construction of a submarine cable to supply Europe with electricity from Azerbaijan.
“It would connect us with the two shores of the Black Sea and would extend further, towards the Caspian Sea region,” explained Von der Leyen, who specified that the cable, on which Georgia is carrying out a feasibility study, will serve both to transfer energy and digital communications.
Von der Leyen stressed that the electricity that the European Union (EU) will import from Azerbaijan with this project will be cleanly generated energy, and will serve both to contribute to decarbonization and to reduce dependence on Russia.
As explained by the President of Azerbaijan, Ilham Aliyev, the Asian country currently produces 27 gigawatts of wind and solar energy, and is developing projects that should increase this capacity by 4 gigawatts by the end of 2027.
“It is a step to create a corridor for green energy,” said the president of this natural gas extraction power that has increased its exports of this type of energy to Europe in recent years.
At the moment, more than 90 percent of the electricity produced in Azerbaijan comes from fossil sources and 7 percent from hydropower, with wind and solar adding up to just 0.5 percent, but Baku has plans to boost this sector.
As explained by Von der Leyen and the Romanian President, Klaus Iohannis, the submarine cable will also benefit the Republic of Moldova and Ukraine, whose energy security has been compromised by Gazprom supply cuts and Russian bombardments against the network. ukrainian electric.
Von der Leyen further said that the project will make Georgia, a country aspiring to join the EU, a regional energy interconnection point that will integrate it into the European electricity market.
“It is a sign of our clear political will to bring the South Caucasus closer to the EU,” said Von der Leyen, adding: “Today we can say that the two shores of the Black Sea have never been so close.”
According to the Romanian presidency, which has acted as host for the signing of the agreement, the project seeks to “consolidate energy security” in the region and “diversify supply sources” by exploiting the “renewable energy production potential” in the Caspian Sea.
“The intergovernmental agreement of four will offer a financial and technical framework for the realization of the project of the submarine cable of electrical energy from renewable sources between Romania and Azerbaijan via Georgia and the Black Sea and for its subsequent transport to Hungary and the rest of Europe”, added the Romanian presidency.