OeEB, KfW-Entwicklungsbank, EIB and EBRD and the Neighbourhood Investment Facility of the European Union (NIF) contributed substantial amounts to the Black Sea Transmission Network.
The project will extend the Georgian transmission system to the neighbouring states, especially to Turkey and Europe. The contribution is part of the total commitment of EUR 289 million provided by European institutions.
Improving the region's energy supply
The project will improve the power infrastructure of Georgia and boost the economic development by enhancing the stability of the Georgian transmission network, encouraging investments in new domestic hydropower resources and by adding power transfer capacity with Turkey. The logical extension of the Black Sea Transmission Network includes connections with Azerbaijan and Armenia to establish a regional power market which facilitates flexible and mutually profitable cross-border energy exchanges with the result that regional energy resources are used in an efficient and environment-friendly way.
to the complete press release (in German only).