Deputy Economy Minister discusses green energy at ministerial with South Caucasus, European officials

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.