Deputy Economy Minister discusses green energy at ministerial with South Caucasus, European officials
In his comments, Mikautadze said the new joint company would be accountable for leveraging opportunities and carrying out objectives of the initiative, noting it would also "add flexibility, accelerate the progress and increase the effectiveness of communication". Photo: Ministry of Economy
Tweet 
Share
Romeo Mikautadze, the Deputy Economy Minister of Georgia, featured in a meeting on the development and transmission of green energy between the governments of Azerbaijan, Georgia, Hungary and Romania, the Ministry said on Tuesday.
Officials participating in the meeting in Bucharest discussed current topics related to the Black Sea submarine cable project, which involves construction of a high-voltage underwater transmission infrastructure to connect the South Caucasus grid to those of European Union member states and allow export of green energy to Europe.
The parties also agreed on the creation of a joint subsidiary company by the governments taking part in the agreement, which will be tasked with the project's development.
In his comments, Mikautadze said the new joint company would be accountable for leveraging opportunities and carrying out objectives of the initiative, noting it would also "add flexibility, accelerate the progress and increase the effectiveness of communication".
When the Black Sea cable project was first proposed a few years ago, it was mostly regarded with scepticism, but with the combined efforts and unwavering commitment, it had become possible to turn this dream into a reality”, the Deputy Minister added.
The project represents one of the key topics of a strategic cooperation agreement that the governments of Azerbaijan, Georgia, Hungary and Romania signed on December 17, 2022. After its 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, initiators of the project have said.
Georgia has proven to be a “valuable participant” of the Southern Gas Corridor, a route delivering gas from Azerbaijan to Europe, and plays a “key role” in energy resources reaching European markets, Romeo Mikautadze, the Deputy Economy Minister, said on Friday.
Strategic cooperation between Georgia and the United States and the partnership in trade, transport and energy were discussed on Saturday in a meeting between the Georgian Deputy Economy Minister Genadi Arveladze and Heidi Gomez, the US Deputy Assistant Secretary of State.
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.
Officials from Georgia, Azerbaijan, Romania and Hungary on Thursday met in the Georgian capital city of Tbilisi to discuss various stages of the implementation of the Black Sea submarine electricity cable project, a new transmission route to deliver green energy from Azerbaijan to Europe, the Georgian Ministry of Economy announced.
Georgian Government officials and professionals from the Italian consulting company CESI on Tuesday visited western Georgia's Black Sea coastal town of Anaklia to select the approximate route and locations for the Black Sea submarine electricity cable project, an international initiative to connect the South Caucasus power grid to that of Europe.
The Black Sea submarine electricity cable is a strategic project of the 21st century, which will change Georgia’s role in the Black Sea region and the international area and will make the country’s energy sector “even more attractive” for investors, Georgian Economy Minister Levan Davitashvili told the media 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.
Priority directions for the Asian Infrastructure Investment Bank’s upcoming activities in Georgia and topics of the domestic economy were discussed in a meeting between the Georgian Economy Minister Levan Davitashvili and Konstantin Limitovskiy, the Vice President of AIIB, the Ministry said on Wednesday.
Trade, economic and investment cooperation between Georgia and the United Kingdom was discussed on Wednesday in a meeting between Georgia’s Deputy Economy Minister Irakli Nadareishvili and Malcolm Offord, the UK Minister for Exports.
Georgian Deputy Economy Minister Genadi Arveladze on Sunday discussed priority areas of economic cooperation between Georgia and the United States and its further development prospects with Carlos DeJuana, Managing Director of US International Development Finance Corporation and Alexander Sokolowski, Deputy Assistant Administrator in the Bureau for Europe and Eurasia at USAID.
Romeo Mikautadze, the Deputy Economy Minister of Georgia, on Sunday said the ongoing year was seeing “record figures” in generation and exports of electricity, in an address to employees of the sector on their professional day.
Georgian Deputy Economy Minister Romeo Mikautadze on Wednesday featured in the 32nd Session of the Committee on Sustainable Energy, organised by the United Nations Economic Commission for Europe, and spoke about the importance of establishing a “sustainable energy system” on the continent.
Solomon Pavliashvili, the Deputy Minister of Environmental Protection and Agriculture of Georgia, on Thursday featured in a meeting reviewing the World Bank’s report on recent progress and challenges in transitioning countries including Georgia to a green economy.