Azerbaijan, Georgia, Romania, and Hungary have officially launched a joint venture to develop a Green Energy Corridor, marked by the signing of a Shareholders' Agreement in Bucharest. This initiative aims to construct a 1,195-kilometer undersea power cable that will transport renewable energy from Azerbaijan to the EU, specifically Romania and Hungary, utilizing Azerbaijan's wind energy potential. The project is a strategic response to the EU's desire to reduce its dependence on Russian energy sources, especially following the Ukraine crisis. Energy ministers from the four nations emphasized the project's significance for energy security and climate change mitigation. The joint venture will also explore integrating a fiber-optic cable line and possibly include Bulgaria in future developments. The project is expected to be showcased at COP29 in Baku and could soon be recognized as a project of common interest by the European Commission.