A plenary session of the Green Middle Corridor Ministerial was held in Budapest with the participation of high-ranking representatives from the governments of Georgia, Hungary, Romania, Bulgaria, and Azerbaijan.

Speakers at the event included Georgia`s First Vice-Premier and Minister of Economy and Sustainable Development, Levan Davitashvili, Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó, Azerbaijan`s Minister of Energy, Parviz Shahbazov, Romanian Minister of Energy, Ioan Burduja, and Bulgarian Minister of Energy, Zhecho Stankov.

"Together, we are shaping the future of energy in the region, and we will achieve our common goal: a clean, connected, and secure energy future. To realize this vision, we must intensify our efforts and foster greater cooperation to transform our plans into tangible actions. I sincerely thank our partner countries and stakeholders for their active support.

The ministerial participants agreed that Bulgaria would also join the Black Sea submarine cable (BSSC) project. Important tasks stand before the team, including the completion of the technical-economic feasibility study being carried out by an Italian consulting company, and the process is moving forward rapidly. Hope, by the end of the 2nd quarter of 2025, the complete technical-economic feasibility study will be available, and the project will move to the practical implementation phase.

I believe we can grant a full mandate for the implementation of this flagship project, which will ensure energy security for all of Europe. This initiative serves not only the interests of the South Caucasus and the Caspian region but is also, I believe, a crucial project for the long-term sustainable energy development of the entire European continent.

We are implementing significant support schemes in the energy sector for renewable sources, including wind, solar, and hydropower. We conducted two competitive auctions for private developers to be awarded the Contract for Difference mechanism, and subsequently expanded this by engaging in direct negotiations with developers capable of investing in viable energy projects. Currently, we have approximately 10,000 megawatts of potential renewable energy projects in Georgia, which represents a substantial capacity; this energy can be utilized for local consumption and also contributes to our flagship project.

The same agenda exists in partner countries, and this helps smooth energy transition and sustainable development to meet the expectations of both the population and businesses, and in the long term, predictable energy prices will strengthen and make more competitive the economies of the countries participating in the project", - said Levan Davitashvili.

Within the framework of the ministerial, a joint letter from Azerbaijan, Georgia, Romania, and Hungary was signed for EU Commissioner Dan Jørgensen, which emphasizes the importance of greater support from the EU for the Black Sea submarine cable project.