Commercial Operations Full Power

DELAYED +2yr (Apr 2026): GSE told Argus in Jan‑2026 that commercial operation is targeted for 2032, assuming 2026 seabed‑survey consulting, 2027–28 marine studies and ESIA, then permitting. ESPIRE indicators and a Mar‑2025 ISR show seabed investigations, technical/E&S documentation, permits and the investment‑stage project company only expected around 2028. With FID likely around 2029 and a 4–5 year build for a 1,100+ km HVDC cable, a realistic full‑power COD is around end‑2034, later than the stated 2032 target. --- According to the CESI feasibility study for the Black Sea Submarine Cable (BSSC), the 40‑year‑lifetime HVDC interconnection between Georgia (Anaklia) and Romania (Constanța) is planned to start operation sometime between 2031 and 2033; applying the later end of this projected range implies full commercial operation by 2033, following completion and commissioning of the approximately 1,155–1,195 km, 500 kV, roughly 1,300 MW submarine and land cable system and associated converter stations that will link Georgia’s grid to the European network.