Council of Ministers of Bulgaria approved the participation of Bulgaria in a joint venture for the implementation of the "Green Energy Corridor" project involving the transfer of Green Energy from Baku to Central Europe, Ambassador of the Republic of Azerbaijan to the Republic of Bulgaria Huseyn Huseynov wrote on X, APA reports.
"The initiative is based on the strategic partnership between the governments of Azerbaijan, Georgia, Romania, and Hungary for the transmission of green energy via the Black Sea submarine cable from Azerbaijan to Europe with the aim of strengthening regional Energy Security and connectivity, diversification of supply, utilization of the potential for energy production from renewable sources in the Caspian region and increasing the share of energy from Renewable Energy in the national energy mix," the post reads.
It was noted that Bulgaria with an equal participation of a 20% shareholding can play an important role in the project through its developed electricity transmission system, interconnections with neighboring countries, the developed electricity market, the possibility of investments in renewable energy sources, and the growing demand for green energy.
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