The European Commission (EC) assigned the status of Project of Mutual Interest (PMI) to the Black Sea Submarine Cable (BSSC), connecting Georgia with European electric energy systems, the EC document says.

Based on the December 1 decision, the EC granted the status of Projects of Common Interest (PCI) and Projects of Mutual Interest (PMI) to 235 cross-border projects.

The selected projects will be eligible to apply for EU financing from the Connecting Europe Facility and will benefit from expedited permitting and regulatory processes for swift execution and delivery.

Following its adoption, the PCI and PMI list will be submitted to the European Parliament and the Council in the form of a Delegated Act for scrutiny, as mandated under the TEN-E Regulation.

This process can be extended by two months if requested by the co-legislators. Once the list is adopted, the Commission will further reinforce its work with project promoters and Member States to help ensure that the selected projects are implemented as smoothly and as rapidly as possible, the EC said.

By allowing vital interconnections across the EU and with neighbouring countries, these projects can play a strategic role in increasing EU’s competitiveness, decarbonisation, and enhancing Europe’s energy security and independence.

The EC announced the competition in 2024.

A 1,155-kilometre BSSC will connect to Romania, allowing Southeastern Europe and Romania to benefit from expanded export opportunities and conduct electricity trading based on hourly electricity market prices.