As part of its strategic energy plan for the years 2007-2020, Romania has identified the need to ensure an increase of the capacity of interconnection of the electricity system with the systems of the South-Eastern European countries.
In accordance with this objective, it was promoted a campaign for the design of the Romania – Turkey high voltage direct current (HVDC) submarine cable interconnection
On February 3rd, 2015, in the presence of the Romanian Prime Minister, Mr Victor Ponta and of the Romanian public authorities, as weel as of the Italian and Turkish ambassadors, the National Power Grid Company – Transelectrica S.A., Prysmian PowerLink S.r.l., UniCredit Ţiriac S.A Bank and Tonucci & Partners have concluded a Memorandum of Understanding (MoU).
The Memorandum is preliminary to the establishment of a team composed by experts and specialists in the relevant areas of expertise, for the analysis of the technical, commercial, financial and legal implications of the project to the elaboration of a feasibility study for investment and the implementation of the same.
The object of the Memorandum is to establish the best conditions and to identify the actions to be performed in order to attract the investors in a public private partnership.
The estimate value for the development of the submarine transport line is of nearly 1 billion EUROS, for an estimated achievement time of nearly five years.