Türkiye, Azerbaijan, Bulgaria, and Georgia signed a memorandum of understanding under the ‘Green Electricity Transmission and Trade Project, Türkiye’s Minister of Energy and Natural Resources Alparslan Bayraktar announced on Friday, Turkish media reports.
In a post on his social media platform X, Minister Bayraktar said that with Azerbaijan’s Minister of Energy Parviz Shahbazov, Bulgaria’s Minister of Energy Zhecho Stankov, and Georgia’s Deputy Minister of Economy Vakhtang Tsintsadze, they took the first concrete step under the ‘Green Electricity Transmission and Trade Project.’
Bayraktar stated that with the signing of the memorandum, the multilateral process between four countries now has been formalized.
With this project, which was laid the foundations for at the Istanbul Energy Forum last year, Bayraktar said the four countries will be connected through new interconnection lines.
‘This will make the cross-border transmission and trade of electricity produced from renewable energy sources possible,’ he said and added that once the project is implemented, transmission systems will be modernized, the production infrastructure will operate more efficiently, and energy security will increase.
Bayraktar emphasized that the strategic cooperation will make significant contributions to the energy future of the region in terms of sustainability, efficiency, and integration.
‘I hope our agreement will be beneficial for Türkiye and all the parties involved,’ he concluded.
