The registration of the joint venture Green Energy Corridor Power Company (GECO POWER COMPANY) has been successfully completed in Bucharest, Romania, as reported by the Ministry of Economy and Sustainable Development of Georgia, according to First Channel television of the country.

This company, formed by the transmission system operators of Georgia, Azerbaijan, Romania, and Hungary, will focus on research and design for the Green Energy Corridor project, which involves constructing a high-voltage subsea transmission cable in the Black Sea.

To advance this initiative, the governments of Azerbaijan, Georgia, Romania, and Hungary signed a Memorandum of Understanding on July 25, 2023, outlining the principles for establishing the joint venture.

The Black Sea Submarine Cable Project is the largest infrastructure initiative directly connecting the power systems of Georgia and Romania, and more broadly linking the South Caucasus with Southeastern Europe.