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Submarine cable to connect electrical networks of Georgia, Europe to be additional direct channel for telecommunication traffic

Oil&Gas Materials 11 April 2021 07:30 (UTC +04:00)
Submarine cable to connect electrical networks of Georgia, Europe to be additional direct channel for telecommunication traffic

BAKU, Azerbaijan, Apr.11

By Tamilla Mammadova – Trend:

The World Bank’s engagement in the construction of a high-voltage cable transmission line along the bottom of the Black Sea confirms the seriousness of the intention and excellent prospects of the project, said Economic Analyst Andria Gvidiani, Trend reports via Georgian media.

A 1,200 km submarine cable will connect the electrical networks of Georgia and Europe. The World Bank has already agreed to fully finance the feasibility studies. Georgia has already prepared an initial feasibility study.

"This idea for building the high-voltage transmission line was proposed many years ago, but certain factors, including high expenditures, suspended the process," Gvidiani said.

According to him, about 7-8 years ago, this project was estimated to be worth 2 billion euros, but many years have passed since then. New technologies have been developed during this period and these technologies provide many novelties to interested parties.

"As for the project financing structure, we expect various governments, international financial institutions, and major energy companies to express huge interest and participate in funding the project. We expect interesting processes in terms of economic, geo-economic, and even geopolitical issues," he added.

"Georgia high-voltage electricity grid will be connected with the 500-kilowatt transmission network with a 1,000-megawatt transmission capacity and this will be a serious breakthrough in terms of energy independence and energy security, in terms of reduction of energy dependence on Russia. The Black Sea underwater cable will enable Georgia to connect the region’s energy system to EU energy networks and the reverse," he noted.

According to expert, this project will be of crucial importance to export Georgia-generated electricity to EU market. Furthermore, Georgia will generate incomes through electricity transit.

"This line will also comprise optical-fiber cable to arrange additional telecommunication /internet channel. This factor will be another breakthrough to shape an additional direct channel for telecommunication traffic in southeastern Europe and South Caucasus/Central Asia," Gvidiani noted.

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