Azerbaijan, Georgia, Hungary and Romania created a working group for the implementation of the electricity supply project from Azerbaijan to Central Europe. This was announced on Friday by the Minister of Foreign Affairs and Foreign Economic Relations of Hungary Peter Siyyarto following a meeting in Baku representatives of four countries.
“A large -scale project to transport environmentally friendly electricity from Azerbaijan through Georgia and Romania to Hungary will help to achieve two important goals. Investments in it will help strengthen our energy security and protect the climate on the planet. This joint investment is unique, since we will lay down on the bottom of the bottom The Black Sea is the longest underwater electric cable with a length of 1 195 km. Today Azerbaijan, Georgia, Romania and Hungary created a working group and set the task to prepare a technical and economic justification (feasibility study) of this project, ”Siyyarto wrote on Facebook.
In December, in Bucharest, the leaders of the four countries entered into an agreement on the supply of electricity from Azerbaijan through Georgia and further through the underwater cable to Romania, and from there to Hungary. Immediately after this, Siyyarto said that the project was ordered back in April of the Italian company, and its cost of € 2.5 million will be covered at the expense of the World Bank. The document will be ready by the end of 2023.
Siyyarto noted that the European Commission considers this project important for the whole of Europe and allocated € 2.3 billion on it. Investments in it are designed for a period of up to four years. It is stipulated that part of the environmentally friendly electricity coming from Azerbaijan through Georgia and Romania will be used in Hungary, and part will go from there to other countries. It is planned to lay a fiber-optic cable along the power line along the power line.