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According to the Minister of Economy and Sustainable Development of Georgia, Levan Davitashvili, the Black Sea submarine cable project is very important not only for Georgia, but also the European Union.
"This is a mutually beneficial project. Accordingly, we are very close allies and partners in the implementation of this project. This is additional energy security for Europe and, of course, great opportunities for the Georgian energy system. As the commissioner noted, this is a great incentive for investors to invest in Georgia's renewable energies, because Georgia is given the opportunity to directly connect with the high purchasing power, more predictable, fair European energy market", - Levan Davitashvili said after the meeting with the European Commissioner for Energy Kadri Simson.
According to the Minister, in the process of implementing reforms, they are constantly receiving technical support from the European friends and this will continue.
"We agreed that the dialogue will help us hope for support on the path of reforms. As for the already achieved results, we have brought the legislation closer to the European one in many areas, including energy efficiency, we have introduced a new energy efficiency labeling system, which is slowly being introduced. In many areas, Georgian legislation is already in line with the European requirements and standards. However, we are working towards market liberalization, where we will also make progress within the framework of close dialogue. Also, we are working on institutional arrangements and improvements where transmission and generation functions will be clearly separated.," - Levan Davitashvili said.
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One US dollar trades at GEL 2.7050
01/08/2025