EU to Invest EUR 2.3 Billion in Georgia-Romania Black Sea Electricity Cable
The EU Commissioner for Neighbourhood and Enlargement Olivér Várhelyi revealed on 12 December that the EU will allocate EUR 17 billion for the economic and investment plan of the Eastern Partnership (EaP), including EUR 2.3 billion aimed at creating the Black Sea strategic submarine electricity cable between Georgia and the EU.
The electricity cable will connect Georgia and the entire South Caucasus to Romania, allowing the export of “green energy” to Europe and the strengthening of mutual resilience.
Per the Commissioner, the overall plan for the EaP region will include transport projects, the creation of a green railway, the strengthening of trade routes to the EU, digital communication projects such as the fiber optic cable under the Black Sea, and the above-mentioned electricity cable.
The Black Sea electricity cable connecting Georgia with the EU is just one of several infrastructural projects of import currently being planned alongside EU states and other countries in the region.
During his visit in November, Commissioner Várhelyi touted the significance of the project while noting that particularly in light of the Russian invasion of Ukraine, the EU needs “reliable, trusted partners” in areas of security, the economy, and energy. “Georgia could be one of those partners,” he underscored at the time.
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