Four countries agree to establish joint company as part of Green Electricity Transmission and Trade project
Tbilisi, May 23, AZERTAC
A quadrilateral meeting was held among the representatives of Türkiye, Azerbaijan, Georgia and Bulgaria in Istanbul.
The sides discussed regionally important projects and prospect for cooperation .
Minister of Energy and Natural Resources of Türkiye Alparslan Bayraktar, Minister of Energy of Azerbaijan Parviz Shahbazov, Minister of Economy and Sustainable Development of Georgia Mariam Kvrivishvili and Deputy Minister of Energy of Bulgaria Kirill Temelkov attended the meeting.
The parties noted that regional energy security, diversification, and sustainable development can be achieved only through close coordination and practical joint efforts, stating that the Green Energy Transmission and Trade Initiative has great potential to become a key platform connecting the region's energy resources and renewable energy potential with European markets in this regard.
As part of the Green Electricity Transmission and Trade initiative, the transmission system operators of the four participating countries agreed to establish a joint company that will finance the feasibility study and direct management of the project.
The preparation of the technical feasibility study is underway and the initiative should be completed within a few months. The project involves the transmission of electricity from Azerbaijan and Georgia through Türkiye’s power grid to Türkiye and Bulgaria, and then to other European markets.
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