Eastern Europe Unites on Black Sea Power Line for Renewables

Romania, Hungary, Georgia, and Azerbaijan unveiled a joint venture to install an undersea power line in the Black Sea, boosting renewable energy imports into the EU. The project, highlighted after Russia's invasion of Ukraine, aims to enhance energy security and reduce consumer electricity prices.

On Tuesday, Romania, Hungary, Georgia, and Azerbaijan initiated a collaborative project to establish an undersea power line beneath the Black Sea. This venture aims to increase the flow of renewable energy from the eastern Caucasus into the European Union.

Initially approved by leaders in 2022, the project has gained urgency following Russia's comprehensive invasion of Ukraine, emphasizing the EU's heavy dependence on Russian energy sources. The 27-nation bloc has since actively been working towards reducing this reliance.

The power line will connect Azerbaijan's robust potential for generating wind energy in the Caspian Sea to EU member states Romania and Hungary through Georgia. Government ministers emphasized the benefits of strengthened energy security and reduced electricity prices for consumers.

Romania's Energy Minister, Sebastian Burduja, stressed the strategic significance of the project for both Romania and the EU, pointing to the high costs associated with the eastern flank's current energy map due to insufficient diversification.

Azerbaijan's Energy Minister, Parviz Shahbazov, added that renewable energy would address climate change challenges while enhancing energy security. The initiative aims to deliver green energy, aligning with global priorities. Discussions about Bulgaria joining the project also took place, with future meetings planned for UN climate change events later this year in Azerbaijan.

(With inputs from agencies.)