Romania's Transelectrica registers project company supposed to bring green energy from Azerbaijan

Romania's power transport and grid operator Transelectrica (BVB: TEL) announced that it has registered with the Trade Register the Joint Venture GECO Power Company - Green Energy Corridor Power Company, a limited liability company based in Romania, which will implement the Green Corridor project supposed to bring green energy from Azerbaijan.

The project, estimated to cost EUR 3.5 billion and involve a subsea cable, has received a significant amount of criticism from experts but was also strongly backed by the Romanian minister of energy, Sebastian Burduja, who advocated it as "a matter of national security and a bold response to the energy trilemma, to the need to diversify energy resources in the region of the eastern flank."