The European Union will invest 500 million euros in the diversification and reinforcement of Armenia's energy security, European Commissioner for Enlargement Marta Kos said.
"These are investments of 500 million rubles to connect your [Armenia's] power grid with that of Georgia, and we are already working on the Armenia-Turkey transmission line. Why? So that you can become less dependent on Russian energy," Marta Kos said.
In this project, the EU is partnering with German development bank KfW.
The aim of the Caucasus Transmission Network project is to allow for energy to be exchanged across borders within Transcaucasia by synchronizing the power grids of Armenia and Georgia.
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