Georgian, Azerbaijani, Hungary and Romania Energy operators created the Green Energy Corridor Power Company – Geco Power Company. This is stated in the message of the Ministry of Economics and Sustainable Development of Georgia.
According to the report, the company was established as part of the project for laying a high -voltage electric cable from Azerbaijan through the territory of Georgia and the Black Sea to Romania.
The process of registering a joint venture has successfully ended in the capital of Romania Bucharest.
The founders are Azereneri JSC, Georgian State Electro System JSC, Hungarian MVM Energy Private Limited Company and the Romanian National Power Grid Company Transelectrica S.A.
A joint venture was created with equal shared participation, so all interested parties will equally participate in the management of the company.
At this stage, a joint venture will engage in research and project activities as part of a green energy corridor. Accordingly, the purpose of its creation is the implementation of the green energy corridor project, which, among other things, provides for the construction of a high -voltage underwater power cable in the Black Sea.