The leaders of Azerbaijan, Georgia, Hungary, and Romania signed an settlement in Bucharest on Saturday to construct an underwater electrical cable underneath the Black Sea.
The venture may develop into a brand new energy supply for the European Union because the bloc seeks to scale back its reliance on Russian power.
“Since the beginning of the Russian war, we have decided to abandon Russian fossil fuel and diversify our options towards reliable partners in the energy field, such as those present at this table. And it is working,” mentioned Ursula von der Leyen, president of the European Commission.
The 1,100-kilometer cable from Azerbaijan to Romania will supply Azeri power for the remainder of the continent.
It may even receive advantages Moldovans and Ukrainians, who’ve noticed their power safety compromised through Russia’s provide cuts and the bombing of important infrastructure.
The venture may well be finished inside 3 to 4 years.
As defined through Azerbaijani President Ilham Aliyev, the Asian nation these days produces 27 gigawatts of wind and solar energy and is growing initiatives that are supposed to building up this capability through 4 gigawatts through the top of 2027.
“It is a step towards creating a corridor for green energy,” mentioned the president of the herbal gas-extracting nation.
