Azerbaijan, Georgia, Romania, Hungary set up joint venture on green energy supply

Azerbaijan, Georgia, Romania and Hungary have established a joint venture on green energy supply, Azerbaijani Energy Minister Parviz Shahbazov announced on Tuesday.

“The Bucharest Meeting of the Ministers/Steering Committee on the establishment of the Green Energy Corridor between Azerbaijan, Georgia, Romania and Hungary ended with important results on the implementation of the Quadrilateral Agreement and the transformation of Azerbaijan into a European Green Energy supplier,” Minister Shahbazov said on X, News.Az reports.

The minister stated that the establishment of a joint venture was secured with the signing of the Shareholders’ Agreement in Bucharest.

“We agreed that the leadership of JV-Green Energy Corridor energy company, as the body responsible for the implementation of the Feasibility Study, should be based on rotation, and also agree to draft an Action Plan, to speed up the processes up to the next meeting. We also agreed that the Feasibility Study includes the tasks related to the fiber optic cable line and issues on the integration of Bulgaria. The sides expressed their support for the high-level event dedicated to the project within the COP29 Climate Leaders Summit,” he added.

The Bucharest Meeting of the Ministers/Steering Committee on the establishment of the #GreenEnergyCorridor between #Azerbaijan, #Georgia, #Romania and #Hungary ended with important results on the implementation of the Quadrilateral Agreement and the transformation of Azerbaijan… pic.twitter.com/miEUGUlFEW

— Parviz Shahbazov (@ParvizShahbazov) September 3, 2024

News.Az