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/, 12 Dec 2022 - 11:29, Tbilisi,Georgia

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.