MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Memorandum of Understanding on Cooperation in the Field of Green Electricity Transmission and Trade was signed between the Ministries of Energy of Azerbaijan, Georgia, Turkey, and Bulgaria. On behalf of Georgia the document was signed by the Deputy Minister of Economy and Sustainable Development, Vakhtang Tsintsadze. The signing ceremony took place in Baku, the capital of Azerbaijan.

The Memorandum aims to develop and strengthen economic, scientific, and technical cooperation between the parties in the field of green electricity transmission and trade by encouraging joint green electricity projects, creating relevant energy infrastructure, sharing knowledge and technologies, and supporting mutually beneficial initiatives.

According to the Deputy Minister of Economy and Sustainable Development, Vakhtang Tsintsadze, the signing of the Memorandum will further deepen the cooperation between the four countries in the field of cross-border electricity infrastructure. “The development of this land corridor will further strengthen Georgia’s transit potential and will facilitate the export of electricity produced in the country via alternative routes, as well as increase the country’s energy security and diversification of energy markets,” – the Deputy Minister noted.

The Memorandum emphasizes the importance of cross-border cooperation for ensuring regional energy security and well-being. The parties expressed their desire to implement new energy infrastructure projects and promote green electricity trade both among the signatory countries and with neighboring countries.

According to the Memorandum, a working group will be established to develop joint cooperation plans and oversee their implementation and analysis.