PM: Brussels, EU, “large financial institutions” support Black Sea submarine electricity cable project

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.

• Georgia, Azerbaijan, Romania, Hungary sign Black Sea Submarine Electricity Cable deal

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.