Azerbaijan, Georgia, Romania and Hungary signed agreement on transfer of green energy.

Leaders of Azerbaijan, Georgia, Romania and Hungary signed an intergovernmental "Agreement on strategic partnership in the field of development and transfer of green energy" in Bucharest on December 17. The document was signed following the summit with the participation of Azerbaijani President Ilham Aliyev, Romanian Prime Minister Nicolae Ciuke, Georgian Prime Minister Irakli Garibashvili and Hungarian Prime Minister Viktor Orban.

The signing ceremony was attended by the President of Romania Klaus Johannes and the President of the European Commission, Ms. Ursula von der Leyen.

The quadrilateral intergovernmental agreement provides for the implementation of an underwater cable project between Romania and Azerbaijan through Georgia and the Black Sea for the transportation of electricity from renewable sources. The project of an underwater power transmission cable across the Black Sea is part of the energy agreement between the European Commission and the Republic of Azerbaijan, and at the same time is a flagship project for Georgia within the framework of the EU's Global Gateway strategy.

"Today we are starting the construction of another energy bridge from Azerbaijan to Europe, our countries intend to become reliable suppliers to Europe, and this mainly concerns green energy. The renewable energy potential of Azerbaijan is more than 27 Gigawatts (GW) — solar and hydropower, as well as wind energy from the Caspian Sea ... Thus, at the first stage, Azerbaijani exports will amount to at least 3 GW," President Aliyev said at the signing ceremony of the agreement.