An underwater transmission line may connect Georgia with Europe. This idea was shaped by EU-Georgia Business Council and the project is being developed by CROSS Energy Group.
The business council chairman Zviad Chumburidze noted that this is a fresh idea that may be implemented in the future if feasibility studies give positive conclusions.
“This will be a sea electricity transmission line that will connect Georgia with Europe, naturally, in long-term perspective, because it will take at least 3-4 years if the research works approve its technical feasibility.
This project will enable to import electricity from Europe, however, tariffs are comparatively higher there. I think Georgia will receive profits if we manage to export even minimum volumes initially. Moreover, Azerbaijan may also join this project”, Chumburidze said and added that a special consortium will be shaped for exploring this issue.
At this stage, the project value exceeds 3 billion USD, Irakli Tkebuchava, Cross Energy Group financial manager, noted.
“The state economy will be developed and power system will be promoted, new investments will be attracted to hydro power field and other renewable fields, such as wind and solar power. The country will also employ the transit resource and transit energy resources of Azerbaijan, Russia and neighboring countries to Europe”, Tkebuchava said.
Preliminary feasibility studies will be finished in the near future, he added.