Levan Davitashvili: Feasibility study for Black Sea underwater cable project ready

The feasibility study for the Black Sea underwater power cable project has been completed, First Deputy Prime Minister of Georgia and Minister of Economy and Sustainable Development Levan Davitashvili said at the "Ministerial Dialogue: Expanding Investment to Triple Renewable Energy Use and Double Energy Efficiency" held within the framework of COP9.

Davitashvili noted that they are preparing to conduct thorough, detailed research in the Black Sea: "Georgia is one of four countries that signed an agreement on the development of the Green Energy Corridor in the South Caucasus. Georgia is among the first countries to join the project."

He also noted that this project is very important for Europe's energy security.

On December 17, 2022, Azerbaijan, Georgia, Romania, and Hungary signed a strategic partnership agreement in Bucharest regarding the construction of the Black Sea underwater power cable. The cable's transmission capacity is 1 GW, with a length of 1,195 km. In June 2023, Bulgaria announced its joining to the project.

In May 2024, energy operators from Azerbaijan, Romania, Georgia, and Hungary signed a memorandum on establishing a joint venture within the framework of implementing the Black Sea Energy project.

The cable will be laid within 3-4 years. The European Commission plans to allocate 2.3 billion euros for the project.