Baku, Azerbaijan, April 7. The preparation of
the technical and economic feasibility study (FS) for the submarine
cable project across the Black Sea is scheduled to be completed by
the third quarter of 2025, said CEO of MVM Group, Károly Mátrai, at
an event titled “Innovative Pathways to a Greener Future: Renewable
Energy and Emission Reduction” at ADA University, Trend reports.
“The FS is being developed by the Italian consulting company
CESI. We have already seen some preliminary calculations, and
initial estimates suggest that the required investments will amount
to billions of euros,” he said.
Mátrai went on to say that the project, which involves laying
the cable across the Black Sea, will take more than two years to
get off the ground.
“Consideration must be given to the fact that the cable will be
laid underwater, and in some cases, the Caspian region’s energy
market will support the European market, while in other cases, the
European market will help stabilize the Caspian region’s energy
supply. These scenarios require careful analysis,” he added.
The Black Sea submarine cable (BSSC) project plans to establish
an undersea high-voltage transmission network to connect the
electrical power networks of Georgia and Europe. Upon project
implementation, a 1,155-kilometer cable will link Romania, enabling
Southeast Europe and Romania to capitalize on enhanced export
potential and exchange electricity at hourly market prices. The
project’s realization will enhance energy security in Europe and
the South Caucasus, foster the renewable energy sector, and expand
transit opportunities.
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