oping new AC and DC transmission lines with Azerbaijan, Armenia, and Turkey – are central to this vision. These pro­jects aim to enable Georgia to export surplus hydropower during the summer and import it during winter shortages, thereby mitigating the seasonal volatility of renewable generation. Concrete infrastructure developments are already support­ing this integration. The Akhaltsikhe HVDC back-to-back station enables electricity exchange with Turkey despite dif­ferences in grid regulation. Likewise, the Marneuli–Ayrum 500 kV interconnection with Armenia, scheduled for com ­pletion in 2025, will facilitate power transfers of up to 1,050 MW and connect with Armenia’s planned 700 MW HVDC station. These projects will enhance regional grid flexibility and reliability, particularly as both Georgia and Armenia rely on renewable sources and lack significant fossil fuel reserves. Coupled power systems could optimise the use of hydro, ­solar, wind, and Armenia’s nuclear energy, facilitating cleaner and more efficient electricity-balancing across borders. Black Sea interconnection The Georgia-Romania Black Sea submarine intercon­nection project represents a transformative initiative that seeks to connect Georgia and the South Caucasus region with the continental European grid. The project aims to en­hance energy security, enable electricity trade with the EU, and create the technical conditions necessary to scale up in­vestments in renewable energy. Infrastructure components include a 500 kV double-circuit line from the Jvari substa ­tion to a new Anaklia substation, a two-pole DC submarine cable to Constanta, Romania, and a 500/500 kV converter station with 2x500 MW capacity. The project is currently in its development phase following the successful completion of a feasibility study in 2024. Despite its strategic promise, the submarine cable project also faces major uncertainties. The lack of market coupling and limited market liberalisation in the region make it diffi­cult to determine whether electricity price differentials are sufficient to support commercial investment. Broader liber Regional and Extra-Regional Energy Cooperation 13