The Black Sea Energy submarine cable has been included in the European Union's list of projects of mutual interest (PMI), Cristina Lobillo Borrero, director of the Energy Platform and International Relations Task Force of the European Commission's Directorate-General for Energy, said at meetings of the Southern Gas Corridor Advisory Council and the Green Energy Advisory Council in Baku, Report informs.
According to her, the European Commission recently included the Black Sea Energy submarine cable in the list of projects of mutual interest (PCI), and this decision now awaits confirmation by the European Parliament and the Council.
"This status will allow the project to qualify for potential EU funding through the Connecting Europe program," Borrero noted.
She emphasized that this project will be the first step toward strengthening energy connectivity between Europe and the South Caucasus and could be integrated with the green energy corridor connecting the Caspian region to Europe.
Borrero added that the European cleantech sector plays a key role in achieving decarbonization, electrification, and energy connectivity goals.
"Achieving these objectives depends not only on public initiatives, but also on sustainable private investment, innovation, and industrial development," she stated.
The European Commission representative also emphasized that creating a favorable investment environment remains key: transparent and stable market rules, competitive procurement mechanisms, and long-term policy predictability are essential.