(MENAFN- AzerNews)
Ulviyya Shahin
Read more
An international feasibility study has affirmed the economic and
technical viability of the Black Sea green energy cable project,
led by Azerbaijan, Azernews reports, citing
Georgia's Ministry of Economy and Sustainable Development.
Conducted by the Italian consulting firm CESI at the request of
the Georgian State Electrosystem JCS and supported by the World
Bank and Georgia's Ministry of Economy and Sustainable Development,
the study began in 2022.
The ministry's statement emphasized that the study confirms the
Black Sea underwater cable project as both promising and feasible
from technical and economic perspectives.
The detailed analysis determined the optimal specifications for
the electric cable, estimated construction costs, and evaluated the
project's economic potential. It also outlined the preliminary
route for both land and sea segments of the cable, developed an
implementation plan, and formulated a procurement strategy.
Additionally, the study described the necessary work for
conducting geotechnical, geophysical, ecological, and
archaeological assessments of the seabed, along with a technical
task related to the tender.
Environmental and social impact assessments, as well as an
evaluation of the project's effect on the seabed, are scheduled for
2025-2026.
In May 2024, a memorandum was signed between Transelectrica and
partner operators from participating countries-AzerEnerji
(Azerbaijan), Georgian State Electrosystem (Georgia), and MVM
(Hungary)-to establish a project company. The joint venture, which
will be headquartered in Bucharest, Romania, has yet to be
named.
The cable aims to transport green electricity generated in
Azerbaijan through Georgia and the Black Sea to Romania, with
further distribution to Hungary and the rest of Europe. The project
is expected to be completed within 3-4 years.
The European Commission is set to contribute €2.3 billion to
support this ambitious initiative.
MENAFN13082024000195011045ID1108549381
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.