Joint Venture for Undersea Power Line to Boost Renewable Energy in Europe

Original Report: apnews.com(full story)

Romania, Hungary, Georgia, and Azerbaijan have launched a joint venture to install a power line beneath the Black Sea, aimed at importing renewable energy from Azerbaijan to EU countries. The project, initiated in response to the energy crisis intensified by Russia’s invasion of Ukraine, seeks to reduce the EU’s dependence on Russian energy sources. The cable will connect Azerbaijan’s wind farms to Romania and Hungary through Georgia. Officials emphasized the project’s strategic importance for energy security and price stabilization in the EU. Discussions on further participation from Bulgaria were also held, with plans for a follow-up meeting at a UN climate event in Azerbaijan later this year.