Hungary buys a lot of green electricity, joining forces with four other countries
At a joint press conference with the energy ministers of Azerbaijan, Georgia and Romania, as well as the Bulgarian Deputy Energy Minister, Péter Szijjártó said the following, according to the ministry's summary:
By 2030, Hungary will consume practically 50% more electricity that it plans to produce carbon-neutrally, which is why the government is expanding nuclear and solar capacity. He added: "It is important that the electricity imported into Hungary should also be carbon neutral, i.e. from green sources. The development of the green energy corridor will help us achieve this objective".
Azerbaijan and Georgia are investing heavily in hydropower and wind power, and Central Europe is developing its own infrastructure to enable the grid to import more green energy from the South Caucasus, so that it can be partly used by the countries in the region and partly transported westwards.
The project will link Georgia with Romania and, if successful, will be the world's longest underwater pipeline, over 1,100 kilometres long. If all goes well, transport along this route could start early next decade.
The parties have signed a Memorandum of Understanding on cooperation in the field of green energy, under which they will coordinate their green energy strategies and developments through a common platform, and will also work together on innovation.
According to the press release, Szijjártó also noted that "today we decided that the electricity companies of the participating countries will set up a joint venture to carry out the technical and technological implementation. We have decided to prepare a joint feasibility study, for which a call for tenders has been launched and the decision on who will prepare it will be taken in early December".
"We are also taking joint action to ensure that adequate financial resources are available for the investment, which is why the European Commission was represented at our meeting today," he added.
The green power project in Azerbaijan has been in the news since last summer, and today's announcement fits in with this news flow:
