EU to Invest €500 Million in Armenia's Energy Sector

The European Union plans to invest an unprecedented amount of 500 million euros in Armenia's energy sector. This step is aimed at strengthening the country's energy security, modernizing infrastructure, and reducing dependence on external actors. The EU High Commissioner for Enlargement Policy, Marta Kos, announced this during a meeting with Armenian journalists in Brussels, as reported by "Armenpress."

The legal foundations of the initiative have already been laid: a few days ago, a corresponding document was signed in Tashkent, launching support for the "Caucasus Transmission Network" project. The project is being implemented in cooperation with the German KfW bank. The main thrust of the project is the synchronization of the electricity grids of Armenia and Georgia, which will allow for reliable, flexible, and mutually beneficial cross-border energy exchange in the South Caucasus.

Kos revealed the strategic context of the project, noting that work is also underway on the Armenia-Turkey electricity grid. "Why? So that you become less and less dependent on energy from Russia," emphasized the European Commissioner. She drew parallels with Europe's own experience, recalling that before the 2022 war, the EU imported 60% of its gas, 50% of its coal, and 40% of its oil from Russia. Currently, coal and oil imports have been reduced to zero, while gas volumes are slowly but steadily decreasing.

To bring these ambitious projects to life, the EU Commissioner is in active contact with the RA Minister of Territorial Administration and Infrastructure, Davit Khudatyan. Kos has asked the minister to present a list of priority projects aimed at overall connectivity. Moreover, the European side has expressed its readiness to also support the strengthening of the ministry's institutional capacities, which is of vital importance for the successful implementation of such large-scale infrastructure projects.