MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Deputy Minister of Economy and Sustainable Development Genadi Arveladze took part in the Fifth Ministerial Meeting of Partnership for Transatlantic Energy and Climate Cooperation (P-TECC). 

The event was held in Bucharest, the capital of Romania, and the Georgian delegation participated in it at the joint invitation of the Secretary of the US Department of Energy and the Minister of Energy of Romania. Jubo Turashvili, the Head of the Department of Energy Policy and Investment Projects of the Ministry, also attended the event.

“The Black Sea Submarine Cable project represents a significant stride towards energy security and environmental sustainability. Black Sea Submarine cable project is in active phase, which is irreplaceable in terms of connectivity to Europe and for electricity export. With the development of this project, Georgia as a candidate country will strengthen its position as one of the most important and reliable partner countries of the European Union. Black Sea submarine cable project has given an additional “new European purpose” to Georgia, while it will also significantly increase the country’s role in ensuring Europe’s energy security,” – Genadi Arveladze stated. 

In his speech, the Deputy Minister thanked the ministerial organizers, especially the Secretary of the US Department of Energy, Jennifer M. Granholm for inviting to the meeting.
Genadi Arveladze noted that up to 80% of Georgia’s local generation comes from the renewable energies, mostly from hydro, which is our main source of electricity generation. In order to further support the development of the green energy sources in the country, Georgian government has developed a new renewable energy support scheme, which is based on the competition and the market principles. As a result, the interest of investors to invest in energy is significantly increased.

The Deputy Minister also drew attention to the infrastructure of electricity transmission in Georgia and its ten-year development plan, as well as various technological innovations that are being introduced in Georgia and increase the quality of the country's energy security. Genadi Arveladze focused on the implementation of the system of spare batteries in the electricity network, as well as the implementation of green hydrogen technology.

An important part of the Deputy Minister's speech was devoted to regional cooperation in the field of electric energy, including the Black Sea submarine cable project. According to him, this project is an important step towards energy security and environmental sustainability. "The Black Sea submarine cable project is in an active phase and it is irreplaceable in terms of connectivity with Europe and electricity export. The cable will connect the electrical systems of Georgia and Romania, which will ensure the possibility of supplying the green energy produced in Georgia and the entire region to the European markets," said Genadi Arveladze.

An important part of the Deputy Minister's speech was devoted to regional cooperation in the field of electric energy, including the Black Sea submarine cable project. According to him, this project is an important step towards energy security and environmental sustainability. "The Black Sea submarine cable project is in an active phase and it is irreplaceable in terms of connectivity with Europe and electricity export. The cable will connect the electrical systems of Georgia and Romania, which will ensure the possibility of supplying the green energy produced in Georgia and the entire region to the European markets," – Genadi Arveladze stated.

In his speech, the head of the Georgian delegation once again emphasized the commitment of the country's foreign policy towards European integration. "Our next goal is to achieve the opening of accession negotiations. We continue to cooperate closely with the institutions of the European Union and the member states of the European Union in order to move forward in accordance with the commitments made in the process of reforms," – Genadi Arveladze said.

Within the framework of the visit, the representatives of the Georgian delegation met with Andrew Light, Assistant Secretary of Energy for International Affairs. Genadi Arveladze thanked Andrew Light for the USA's support of Georgia's sovereignty and territorial integrity. According to him, in 2023, Georgia received the status of a candidate country of the European Union and expressed hope that in the near future it will be possible to start negotiations on joining the European Union. The Deputy Minister also positively assessed the US support for the ongoing reforms in Georgia. At the meeting, the Assistant Secretary of the US Energy Department for International Affairs welcomed the decisions taken towards the development of green energy in the country. He offered technical and economic support and, if necessary, financial assistance to the Georgian side for the development of the system of electricity storage devices.

At the end of the meeting, the parties thanked each other for the fruitful meeting and expressed their readiness to further strengthen cooperation.