BAKU, Azerbaijan, August 12. Green Energy
Corridor Power Company (GECO Power) has moved on to the next phase
of the Black Sea Energy project.
This was announced in a report published by GECO Power.
According to GECO Power, the company, together with CESI and
representatives of the project’s technical and economic working
groups, held a separate meeting on Workstream 2, focusing on the
key activities necessary to move the project from the feasibility
study phase to the development phase.
In addition, it is noted that the meeting addressed the main
technical, economic, and organizational aspects of the next phase,
including approaches to developing a development strategy and a
procurement strategy, as well as the coordination of upcoming
activities among participating countries and project partners.
“Work Stream 2 is a crucial stage in implementing the findings
of the feasibility study within the framework of a structured
development model and in charting the way forward for the
implementation of the Black Sea Energy project.
GECO Power expressed its gratitude to CESI and all members of
the working groups for their active participation and valuable
contributions,” the company reported.
Meanwhile, the “Agreement on Strategic Partnership in the
Development and Transmission of Green Energy between the
Governments of Azerbaijan, Georgia, Romania, and Hungary” was
signed on December 17, 2022, in Bucharest.
On July 3, 2026, at a meeting of the project’s executive
committee in Baku, it was announced that the feasibility study for
the Black Sea Energy project had been completed and that the
project was moving on to the next stage of development.
Following the meeting, GECO Power was tasked with preparing a
detailed roadmap of actions to be implemented before the final
investment decision. An agreement was also reached to establish
cooperation among the national energy regulatory authorities of the
participating countries.
