PM hails Government’s “historic project” of “direct” energy connection with EU
Georgian Prime Minister Irakli Garibashvili signing the agreement on the Black Sea submarine cable international project. Photo: government press office
Tweet 
Share
Georgian Prime Minister Irakli Garibashvili on Tuesday said the recently signed Black Sea submarine cable international project, a move initiated by his Government, would ensure “direct connection” between Georgian and European energy systems, in comments summing up the Government’s work throughout the year.
The head of the Government stressed the “historic project” - signed earlier this month between Azerbaijan, Georgia, Hungary and Romania in Bucharest, with European Commission President Ursula von der Leyen in attendance - was a “fully Georgian initiative”.
The feasibility study for the deal - designed to transfer green energy to Europe via Georgia - is set to launch in a few months, he said.
The initiative can perform as the second Baku-Ceyhan-Tbilisi project - a guarantee to sell energy. It is a direct connection of our energy system to the European Union market, the European Union energy system, and of course it is a project of historic importance”, he said, noting the total cost of the initiative reached “two to three billion dollars”.
Promoting energy as a key sector - “especially with the background of the Russia-Ukraine conflict” - Garibashvili said his office was doing “its utmost” to ensure large investments in the direction, noting investments in the sector had been halted over the past five years.
My office has actively worked with the International Monetary Fund and reached an agreement over the launch of a new scheme, which has already been approved by the Government”, Garibashvili said, adding his office had also announced a tender for 1500 megawatts of domestic energy production.
He also noted earlier agreements had ensured an additional 800 MW, boosting the estimated domestic energy production capacity by up to 2,300 MW over the next two to three years.
The agreements include hydro, solar and wind energy, which are very important for energy security and energy independence of our country”, Garibashvili said, adding the Russia-Ukraine conflict had resulted in increases of energy prices to an average of 20 cents for kWh in European states, in contrast to “very low prices” for domestic consumers.
The PM also highlighted increasing domestic energy production would allow Georgia to sell its share of electricity to the EU and ensure “hundreds of millions of dollars in income to our country and people”.
Georgian Prime Minister Irakli Garibashvili on Monday stressed the importance of the recently signed Black Sea submarine cable international project and said the endeavour was a “Georgian initiative", in remarks to the Ambassadors Conference in Tbilisi.
Georgian Economy Minister Levan Davitashvili on Monday highlighted his Government had been the “initiator and author” of the Black Sea submarine electricity cable project, signed by Azerbaijan, Georgia, Romania and Hungary on Saturday.
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 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 Tuesday said all military bases across the country had been renovated “according to international standards” throughout the past year, in his comments summarising the Government’s work in 2022.
Georgian Prime Minister Irakli Garibashvili on Tuesday said his Government was “doing its best” to help develop the business sector in the country, citing 125,000 companies registered over the last two years as an example of his team’s pro-business stance.
Georgian Prime Minister Irakli Garibashvili on Tuesday said his Government would invest $10 billion for the development of the country’s Russian-occupied Abkhazia and Tskhinvali (South Ossetia) regions in the first three years after peaceful reintegration of the territories.
The first weekly meeting of the Georgian Government in 2023 on Monday discussed raising funds for the feasibility study of the Black Sea submarine cable project and construction of a wind power plant in the western Imereti region, among other topics.
The National Statistics Office of Georgia will launch an online portal for social and economic statistics in the country’s municipalities this year, with the agency also working to improve its data collection.
Georgia’s energy sector is in “an active phase” of development and the country’s goal is to “effectively” use the “huge” unused potential of renewable energy through hydro, wind, solar, and other energy-sufficient directions, Romeo Mikautadze, Georgia’s Deputy Economy Minister said on Saturday at the 13th session of the Assembly of the International Renewable Energy Agency in Abu Dhabi.
Further development of the Akhali Samgori solar power plant - a joint project of the Georgian Energy Development Fund and Masdar, a renewable energy company - was discussed on Sunday by Georgian Deputy Economy Minister Romeo Mikautadze, the Fund Director Jaba Khmaladze and Masdar’s Chief Executive Officer Mohamed Jameel Al Ramahi.
Georgian Prime Minister Irakli Garibashvili on Thursday hailed the “very important, historical” projects implemented with Azerbaijan, including the Baku-Tbilisi-Kars railway and the Black Sea Strategic Submarine Electricity Cable projects, noting the relations between the countries have been “tested by time” and “at the highest level”.
A new processing plant has been launched in Rustavi, outside capital Tbilisi, in a ₾30 million ($11.34mln) project for producing "high-quality asphalt of a Euro standard", the Ministry of Economy said on Thursday.
Georgian Deputy Economy Minister Romeo Mikautadze on Tuesday highlighted energy security as a "necessary prerequisite" for ensuring growth and development, in remarks at the Energy Policy Forum organised by the United States Agency for International Development.