PM: Brussels, EU, “large financial institutions” support Black Sea submarine electricity cable project
Georgian Prime Minister Irakli Garibashvili said the EU and “large financial institutions” were backing the Black Sea submarine electricity cable project. Photo: PM's press office
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Georgian Prime Minister Irakli Garibashvili on Friday told MPs Brussels, the European Union and “large financial institutions” were backing the Black Sea submarine electricity cable project for linking the power grid of the South Caucasus with those of EU states.
In comments at the lawmaking body for presenting an annual report on the Government’s work, Garibashvili told the lawmakers his team expected the planned infrastructure to become a “historic project” among initiatives that have been implemented over the last 30 years.
Garibashvili told MPs the project - which he called a “Georgian initiative” he had proposed in Brussels in 2021 - was being “actively studied”, with results of the preliminary work set to be announced in September before works move on to the second phase.
We received full support from the European Union from the beginning. Then we continued active cooperation with our strategic partners - Azerbaijan, Romania, Hungary - and last year a memorandum [for the initiative] was signed”, he noted in comments on the origins of the idea.
In comments on other energy projects and infrastructure, the Government head told the Parliament seven hydropower plants had become operational across the country last year.
“Currently, a total of 229 memorandums have been signed. Work is underway on the development of four large capacity hydroelectric power stations. It is planned to build a new 350-430 MW combined cycle thermal power station - Gardabani 3 - which will be the largest thermal power station in Georgia”, he said.
He also noted a new renewable energy scheme to support 15 hydropower, two wind and 10 solar power projects across the country had been launched.
Deputy Economy Minister Romeo Mikautadze on Thursday said Georgia’s role as a hub for green energy development was evident in the region in view of its “strategic location”, highlighting the importance of strengthening and developing appropriate infrastructure to ensure the transportation of green energy from the South Caucasus to Europe.
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.
Sebastian Molineus, the World Bank Regional Director for the South Caucasus, on Thursday said the Black Sea submarine cable project would contribute to a “very strong” economic and political connection between Georgia, the South Caucasus and European countries.
The European Union “strongly supports” the Black Sea submarine cable project, a new transmission route to deliver green energy from Azerbaijan to Europe, and hopes the South Caucasus will become a “very important” source of energy for Europe, Paweł Herczyński, the Ambassador of the European Union to Georgia, said on Thursday.
Georgian Prime Minister Irakli Garibashvili on Friday highlighted the “growing trend” in the country’s foreign trade, “record increase” in exports in 2022, and rising trade turnover in his comments for presenting the annual report on the work of the Government at the Parliament.
Georgian Prime Minister Irakli Garibashvili on Friday said foreign direct investments in the country had hit a “record high” of $2 billion in his annual report on Government’s work to the Parliament.