EU announces €2.3 bln in investments for project allowing green energy exports to Europe via Georgia
The European Union on Sunday announced plans to allocate €2.3 bln for the construction of the Black Sea Strategic Submarine Electricity Cable. Photo: Nino Alavidze/Agenda.ge
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Oliver Varhelyi, the European Union Commissioner for Neighbourhood and Enlargement Policy, on Sunday announced the bloc would allocate €17 billion for the economic and investment plan of its Eastern Partnership initiative, including €2.3 billion in estimated total investments for the Black Sea Strategic Submarine Electricity Cable.
The project involves the construction of a high-voltage underwater transmission grid which will connect Georgia with Romania and allow export of green energy to Europe.
Economic and Investment Plan of #EasternPartnership ⏩️ €17b
— Oliver Varhelyi (@OliverVarhelyi) December 11, 2022
It includes ???? transport projects, eg. Railways ensuring Green lanes & reinforcing trade routes to the ????????????digital connectivity projects, eg. Fibre optic cable under the Black Sea
???? electricity cable, eg. ????????????????cable⤵️ pic.twitter.com/koegk8M9qF
After implementation, the 1,195 km long cable - with 1,100 km of its length laid underwater - will enable the countries of the South Caucasus and Romania to take advantage of “broadened export opportunities” and also trade in electricity at hourly market prices.
Black Sea strategic submarine electricity cable will connect Georgia to Rumania and will allow to export green energy to Europe. #GEOinEU https://t.co/cz8UHkHiDx
— Shalva Papuashvili ???????? (@shpapuashvili) December 11, 2022
The project is seen to contribute to the strengthening of energy security of both Europe - especially amid the Russia-Ukraine conflict - and the South Caucasus region.
Addressing the United Nations Climate Change conference in November, Georgian Prime Minister Irakli Garibashvili stressed his country could play an “important role” in diversifying transport routes and ensuring Europe's energy supply.
Georgian Foreign Minister Ilia Darchiashvili will feature in a ministerial meeting of the Eastern Partnership on Monday, with the event bringing together European Union foreign ministers and their counterparts from Armenia, Azerbaijan, Georgia, Moldova and Ukraine.
Pawel Herczynski, the European Union Ambassador to Georgia, on Thursday said Georgia’s location placed “high importance” on the country in its role as an alternative trade route for transportation of goods from Asia to Europe in the wake of Russia’s ongoing war against Ukraine.
Georgian prime minister Irakli Garibashvili highlighted the importance of developing sustainable energy sources in a roundtable discussion of the United Nations Climate Change Conference on Tuesday.
Ongoing reforms and future plans for the development of the energy sector of Georgia were in focus of a meeting between the Georgian Economy Minister Levan Davitashvili and representatives of Energy Community (EC), an organisation established between the European Union and a number of eastern and southern European states, on Thursday.
Georgian Foreign Minister Ilia Darchiashvili on Monday said he would discuss his country’s progress on its European Union integration path and prospects for further sectoral and economic cooperation with the EU at the bloc’s Eastern Partnership meeting in Brussels.
Georgian Deputy Economy Minister Romeo Mikautadze spoke about Georgia’s energy and transit potential at the ongoing Balkans and Black Sea Forum in Athens, Greece, the Ministry of Economy announced on Tuesday.
Georgia’s capital Tbilisi is hosting the first-ever series of consultations between high-ranking diplomats of Georgia and the Western Balkan countries of Albania, Montenegro, Serbia and North Macedonia on matters related to their European integration.
Georgian Prime Minister Irakli Garibashvili on Friday left for a working visit to the Romanian capital of Bucharest, with the signing of an agreement on “strategic partnership” with the governments of Azerbaijan, Romania and Hungary for the development and transmission of green energy on the agenda of the Government head.
Dear Colleagues, Dear Friends,I am pleased to address the distinguished audience at today’s important gathering. At the outset, I would like to thank the Romanian side for hosting and organising this event, which has a historical importance. I also thank Ursula von der Leyen, President of the European Commission for supporting the project.
Georgia's strategic geographic location makes a "natural bridge" connecting the West and the East and is a gateway to eight landlocked countries of the South Caucasus and Central Asia, which is a crucial link on the European Union's Global Connectivity map and a game changer, when it comes to diversification of transport routes and energy supply, Georgian Prime Minister Irakli Garibashvili said on Saturday.
Romanian President Klaus Iohannis on Saturday said he expected that maritime transport would be expanded with Georgia at the signing ceremony of the Agreement on a strategic partnership in the field of green energy development and transmission between the governments of Georgia, Azerbaijan, Romania and Hungary.
The Black Sea strategic submarine electricity cable between Georgia and the European Union will be a “window of new opportunities”, which will turn the country into an electricity hub and improve the internal energy market, the European Commission President Ursula von der Leyen said on Saturday at the signing ceremony of the Agreement on Strategic Partnership in the field of Green Energy Development and Transmission between Azerbaijan, Georgia, Romania and Hungary.
Georgian Prime Minister Irakli Garibashvili on Saturday said strengthening the interconnections and energy transit capabilities of the region was of strategic importance for the Government, at the plenary session on Strategic Partnership Agreement for Green Energy Development and Transmission.
The high officials of Georgia, Azerbaijan, Romania and Hungary on Saturday signed an Agreement on the Black Sea Submarine Electricity Cable project in Bucharest, to export green energy to Europe via Georgia.
The United Nations Development Programme, Sweden and Euronews Georgia have launched Climate Magazines, a series of documentaries detailing key climate change issues and impacts in Georgia, in a bid to better inform the country’s residents about challenges posed by the issue.
Georgian Deputy Economy Minister Romeo Mikautadze and James Appathurai, the NATO Deputy Assistant Secretary General for Emerging Security Challenges, on Wednesday discussed reforms in Georgia’s energy sector at their meeting in Tbilisi.
Cooperation between Georgia and World Bank and the Black Sea submarine electricity cable project intended to connect the grids of the South Caucasus and European Union member states were discussed on Friday in a meeting between the Georgian Deputy Economy Minister Genadi Arveladze and Koen Davidse, the Executive Director of the Bank.
Georgian Deputy Economy Minister Romeo Mikautadze on Saturday said the European Mobility Week, hosted in Tbilisi starting from today till Friday, aimed to raise awareness of sustainable urban mobility, promoting travel by public transport, walking and cycling.
Davit Narmania, the Head of the Georgian National Energy and Water Supply Regulatory Commission, on Friday said the Government had approved over 30 acts in its commitments to the European Union’s energy-related legal frameworks.
Georgian Economy Minister Levan Davitashvili on Tuesday said the country had “all conditions” to be a net exporter of electricity, adding the Government’s “main goal” was to ensure export from local generation to the European Union.
Genadi Arveladze, the Deputy Economy Minister of Georgia, on Friday said the country had achieved “significant success” in quality infrastructure development, a system contributing to Governmental policy objectives in areas including trade competitiveness in global markets, efficient use of natural and human resources, food safety and more.