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HomeElectricityHungary, Azerbaijan, Georgia, Romania and Bulgaria to cooperate on green energy

Hungary, Azerbaijan, Georgia, Romania and Bulgaria to cooperate on green energy

Hungary, Azerbaijan, Georgia, Romania and Bulgaria signed a declaration of intent on cooperation on green energy which would see them coordinate their green strategies, developments and innovation via a shared platform.

This was announced by Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó, after a meeting of the management committee of the so-called Green Energy Corridor in Budapest.

Minister Szijjártó said the future of the Hungarian economy and environmental protection lies in green energy and the country has taken a major step towards meeting the goals related to it with broad international cooperation.

“The electricity firms of the five countries will set up a joint venture to manage the project’s technical and technological implementation,” he told a joint press conference with the energy ministers of Azerbaijan, Georgia and Romania and the deputy energy minister of Bulgaria, according to a ministry statement.

Also, a tender will be called for a joint feasibility study, with the winning bidder to be decided early next month, he said. The participating countries will also take joint steps to ensure that the financial resources for the project are in place.

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