On November 21, the 4th Steering Committee of the Green Energy Corridors Initiative was held in Budapest in the presence of the Hungarian, Azerbaijani, Georgian and Romanian ministers. Cesi Group and Gianluca Marini, Executive Vice President Consulting Division of CESI, were also present at the meeting to present their views on the project to the committee.
Among the topics covered during the meeting, the Black Sea submarine cable project was also discussed, emphasizing the importance of its implementation. Marini explained CESI's involvement in this project. The high-voltage undersea power cable under the Black Sea (1195 km long, including 1100 km undersea and 95 km on land) aims to connect the South Caucasus region with southeastern Europe, involving the power systems of Azerbaijan, Georgia, Romania and Hungary and continental Europe. The project will be implemented with the support of the Georgian government and the cooperation of Georgian and Romanian transmission system operators GSE and Transelectrica.
The Black Sea submarine cable is a strategic project and a great investment opportunity for Georgia and its neighboring countries. The project will contribute to the development of the renewable energy sector, increase transit opportunities and bilateral trade potential between the EU and the South Caucasus region.