BAKU, Azerbaijan, August 12. Green Energy Corridor Power Company (GECO Power) has moved on to the next phase of the Black Sea Energy project.

This was announced in a report published by GECO Power.

According to GECO Power, the company, together with CESI and representatives of the project’s technical and economic working groups, held a separate meeting on Workstream 2, focusing on the key activities necessary to move the project from the feasibility study phase to the development phase.

In addition, it is noted that the meeting addressed the main technical, economic, and organizational aspects of the next phase, including approaches to developing a development strategy and a procurement strategy, as well as the coordination of upcoming activities among participating countries and project partners.

“Work Stream 2 is a crucial stage in implementing the findings of the feasibility study within the framework of a structured development model and in charting the way forward for the implementation of the Black Sea Energy project.

GECO Power expressed its gratitude to CESI and all members of the working groups for their active participation and valuable contributions,” the company reported.

Meanwhile, the “Agreement on Strategic Partnership in the Development and Transmission of Green Energy between the Governments of Azerbaijan, Georgia, Romania, and Hungary” was signed on December 17, 2022, in Bucharest.

On July 3, 2026, at a meeting of the project’s executive committee in Baku, it was announced that the feasibility study for the Black Sea Energy project had been completed and that the project was moving on to the next stage of development.

Following the meeting, GECO Power was tasked with preparing a detailed roadmap of actions to be implemented before the final investment decision. An agreement was also reached to establish cooperation among the national energy regulatory authorities of the participating countries.