site.btaBulgaria, Azerbaijan, Georgia and Turkiye to Cooperate in Green Electricity

The Bulgarian government approved the draft of a memorandum of understanding between the energy ministries of Bulgaria, Azerbaijan, Georgia and Turkiye concerning cooperation in the transmission of, and trade in, green electricity, the Council of Ministers in Sofia reported after its weekly meeting on Wednesday.

The parties to the memorandum agree to promote joint green electricity projects, build necessary infrastructure, step up the sharing of knowledge and technology, and encourage mutually beneficial initiatives.

The four countries' energy ministries will facilitate closer relations among public and private sector entities in exploring opportunities to upgrade system-to-system connectivity and in implementing joint investment projects to expand electricity transmission and trading capacities. The draft memorandum stipulates improving power infrastructure and boosting the use of renewable energy.

The future memorandum will be concluded for a period of three years and can be extended automatically by further three-year intervals, unless any of the parties chooses to terminate it.