The power line project is expected to enhance the EU’s energy security. Credit: Siwakorn TH / Shutterstock.

The Black Sea power line project, aimed at enhancing the European Union’s renewable energy capacity, has been officially launched by Romania, Hungary, Georgia and Azerbaijan, news agency Associated Press has reported.  

The initiative is a direct response to the heightened need for energy diversification in the EU following Russia’s invasion of Ukraine.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Government ministers from the four nations convened in Romania’s capital to kickstart the joint venture.

The project, approved by the countries’ leaders in 2022, has gained momentum as the EU seeks to cut its reliance on Russian energy, particularly following the Ukraine conflict that caused energy prices to surge.

The undersea cable will link Azerbaijan’s prospective wind farms in the Caspian Sea with EU countries Romania and Hungary via Georgia.

See Also:

This connection is expected to enhance the EU’s energy security and could potentially reduce electricity costs for consumers.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Romania’s Energy Minister Sebastian Burduja emphasised the strategic significance of the project for both Romania and the broader EU.

Azerbaijan’s Energy Minister Parviz Shahbazov stated that utilising renewable energy would assist in addressing climate change challenges.

The undersea line is important for energy security, Shahbazov stated, “but at the same time it is going to provide the green energy … which is very high on the agenda of the international community.”

The meeting also saw participation from Bulgaria’s deputy energy minister, sparking conversations about the EU member potentially joining the infrastructure project.

The next discussion on the project is scheduled to take place at a UN climate change meeting in late 2024 in Azerbaijan, as confirmed by both Burduja and Shahbazov.