Moldova might join Black Sea Energy project - Energy Minister

BAKU. Nov 18 (Interfax) - Moldova might join the Black Sea Energy project to lay an underwater cable to transmit green energy from Azerbaijan through Georgia to Romania, Romanian Energy Minister Sebastian Ioan Burduja said at a ministerial meeting on energy initiatives at the United Nations COP29 climate conference in Baku on Friday.

"We need to mobilize like never before, but we are short on time. We also need to be ready to act and turn beautiful promises into projects, wires and new megawatts in our systems for our people [...] Romania is prepared to respond to this challenge together with Azerbaijan, Georgia, Hungary, and now also with Bulgaria and, possibly, with Moldova," Burduja said.

The "green corridor" will connect Central Asia and Europe, serving as an interregional energy bridge that will provide Europe with secure, affordable and clean energy, he said, adding that this will hopefully become an example for other continents and countries to become more connected.

Burduja said earlier that the Black Sea Energy project would cost 3.5 billion euros. The European Commission plans to provide 2.3 billion euros for the project, which is expected to take three to four years to complete.

Azerbaijan, Georgia, Romania and Hungary signed a strategic partnership agreement in Bucharest on December 17, 2022 to lay a power line 1,195 km under the Black Sea with capacity of 1 GW. Bulgaria's plans to join the project were announced in June 2023.

The energy operators of Azerbaijan, Romania, Georgia and Hungary signed a memorandum in May 2024 to form a joint venture to carry out the Black Sea Energy project, and in September Azerenergy, Trasnelectrica SA, Georgian State Electrosystem and MVM signed a shareholder agreement to found the venture Green Energy Corridor to serve as project operator.