Slovenia has voiced strong support for the Black Sea Energy
submarine cable project, a strategic initiative to transmit green
energy from the South Caucasus to Europe, and is actively exploring
opportunities to participate in its implementation. The Slovenian
Ministry of Environment, Climate and Energy emphasized that
cooperation with Azerbaijan in the field of renewable energy is
among the country’s key priorities.
According to the ministry, one of the most promising areas of
bilateral cooperation is the development of clean energy
technologies, including hydrogen. This shared vision was formalized
on April 4, 2025, when the Ministries of Energy of Slovenia and
Azerbaijan signed a Memorandum of Understanding focused on
renewable energy, clean technologies, and joint innovation.
Slovenia supports the global investment activities of its
companies in renewable energy, both domestically and abroad,
including in Azerbaijan. The ministry noted that Slovenian energy
companies — particularly transmission system operators — are
recognized for their expertise in smart grids, energy storage, and
hydrogen integration.
“We support all forms of collaboration in the fields of smart
grid technology, hydrogen energy, and integration of renewable
sources into the energy system,” the ministry stated, also
highlighting the potential for research cooperation between
Slovenian institutions and Azerbaijani partners.
Slovenia further welcomed the growing cooperation between
Azerbaijan and the European Union in the hydrogen sector and
expressed readiness to expand joint efforts.
In addition, the Slovenian government praised Azerbaijan’s
successful leadership in organizing the upcoming COP29 climate
conference, pointing to the country’s growing role in the global
energy transition and its strong presence within the International
Renewable Energy Agency (IRENA).
The Black Sea Energy project aims to export up to 4 GW of green
electricity to Europe via a high-voltage submarine cable across the
Black Sea. Launched through a strategic partnership agreement
signed in 2022 by Azerbaijan, Georgia, Romania, and Hungary — and
later joined by Bulgaria — the project will be implemented through
the “Green Energy Corridor” joint venture established in 2024 by
the national energy operators of the four founding countries.
The Black Sea submarine cable project, which is set to be
completed by 2030, is one of the largest infrastructure projects in
the region. The submarine cable will cover a distance of 1,155
kilometers (1,115 km underwater and 40 km on land), with a voltage
of 525 kV and a capacity of 1,300 MW. Additionally, a fiber-optic
communication cable will be installed along the same route. The
feasibility study conducted by CESI, an Italian consulting company,
confirmed that the project is both technically and economically
viable.
This project, which was included in the 2024-2034 ENTSO-E
network development plan, aims to enhance regional energy security,
diversify energy supply sources, and increase the share of
renewable energy in the energy mix. Furthermore, the initiative is
intended to provide competitive electricity generation from
renewable sources, with a strong focus on sustainable energy
production.
The joint venture was officially launched on July 25, 2023,
following the signing of a Memorandum of Understanding between the
governments of Azerbaijan, Georgia, Romania, and Hungary. The
founding companies of GECO Power Company include Azerenergy from
Azerbaijan, Georgian State Electric Network from Georgia, MVM
Energy Private Limited from Hungary, and Romania’s National Power
Grid Company Transelectrica S.A. Each country holds an equal share
in the company, ensuring equal participation in its management.
In November 2024, the project was submitted to the European
Commission for recognition as a project of common interest, due to
its contribution to energy and climate policy goals between EU and
non-EU countries.
Azerbaijan is responding to new global challenges by moving away
from its historical dependence on oil and gas. Though the country
has typically relied on these energy sources, it is now actively
seeking to diversify its economy. The focus on a sustainable energy
future and the development of a green economy have become key
priorities in Azerbaijan’s latest strategy initiatives.
According to the “Agreement on Strategic Partnership in the
Field of Development and Transmission of Green Energy,” signed in
Bucharest on December 17, 2022, Azerbaijan, Georgia, Romania, and
Hungary have established a cooperative framework. This project,
known as the “Caspian-Black Sea-Europe Green Energy Corridor” or
“Black Sea Cable,” aims to transport green energy generated from
Azerbaijani wind power plants to Romania and, eventually,
Europe.
The agreement outlines the construction of an energy bridge from
the Caucasus region to Europe, connecting Azerbaijan, Georgia,
Romania, and Hungary. The project includes the development of the
“Black Sea Cable,” a 1,195-kilometer submarine electric cable with
a capacity of 1,000 megawatts. This cable will transport green
electricity produced in Azerbaijan through Georgia and across the
Black Sea to Romania, Hungary, and the rest of Europe, enabling up
to four gigawatts of green energy supply.
The estimated cost of the cable is 3.5 billion euros, with the
European Commission planning to provide 2.3 billion euros. The
feasibility study is scheduled to conclude by the third quarter of
2025, and construction is expected to take three to four years.
Beyond renewables, Slovenia is also deepening its cooperation
with Azerbaijan in the natural gas sector. The ministry stated that
Slovenia considers Azerbaijan a reliable partner in ensuring energy
security and diversifying gas supplies, especially through projects
like the Southern Gas Corridor.
Slovenia supports the cooperation between the State Oil Company
of Azerbaijan (SOCAR) and Slovenia’s Geoplin, the country’s largest
gas supplier. On August 1, 2024, SOCAR began gas deliveries to
Slovenia via the Trans-Adriatic Pipeline under a memorandum signed
in July of the same year. Azerbaijani gas accounted for around 5%
of Slovenia’s total gas consumption in 2024, and discussions are
ongoing to increase supply volumes.
Slovenia’s annual gas demand is estimated at 0.8 to 1 billion
cubic meters. The ministry stressed that, historically, there has
never been such close energy cooperation between the two countries,
and natural gas is emerging as a vital pillar of this
partnership.
The Memorandum of Understanding signed in April 2025 between the
two energy ministries further reinforces shared goals of enhancing
energy security, transitioning to cleaner energy sources, and
diversifying Europe’s energy supply routes through closer ties with
Azerbaijan.