Georgia, Azerbaijan, Romania, and Hungary signed a memorandum in July 2023 to establish a joint venture to develop a Black Sea submarine electricity transmission line which would link Azerbaijan to continental Europe via Georgia.
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Authorized by the Georgia Public Service Commission, these new systems are part of the state-regulated Integrated Resource Plan (IRP) to stabilize grid performance during demand fluctuations and enhance the integration of variable renewable generation.
ADB has greenlit a $104 million loan to help Georgia build its very first energy storage facility — a strategic move that's expected to strengthen grid reliability, cut foreign dependence, and unlock more renewable energy down the line.