In response to the energy challenges that worry many countries, the Minister of Energy of Romania announced a project that could change the energy map of Eastern Europe.
In the next month, the plan is to establish a joint project company for the implementation of the Green Corridor, based in Bucharest. The Green Corridor is not only a matter of energy connections, but also the construction of a kind „bridge” which will connect the Caspian Sea with the European Union through the strategic cooperation of Hungary, Romania, Georgia and Azerbaijan.
The Green Corridor project was conceived as one of the main elements in the transformation of the region, in order to make this area energetically stable and safe. The beginning of this venture was marked by the signing of a contract two months ago in Bucharest, which formalized the construction of a one-way high-voltage submarine cable that will cross the Black Sea and connect four countries. The cable will transmit green electricity between Hungary, Romania, Georgia and Azerbaijan, directly across the Black Sea, from the Caspian Lake region, it was announced on the website of the Ministry of Energy of Romania.
It is therefore about the energy transport infrastructure and the connection of these countries with the European energy market, which suffers from the problem of disconnection, which consequently leads to higher electricity prices in the eastern part of Europe compared to the western part.
The Green Corridor and the East-West direct interconnector represent projects that will enable better connectivity and security of supply, thus contributing to the countries of the mentioned region being more energy stable.
If the project is implemented according to plan, it is expected that billions of euros will be invested in the Romanian economy, which will create new jobs and ensure better economic development, as well as lower energy bills for households and companies.
Investment in the corridor will not only help reduce energy costs, but will also contribute to increasing the use of renewable energy sources, which is a key step towards reducing dependence on fossil fuels and combating climate change.
Energy portal
Source: energetskiportal.rs
