Georgia plans to develop renewable energy

Georgian Minister of Energy Kakha Kaladze and director of the American solar power company Aeolus Apolo Alto Energy will sign a cooperation memorandum at hotel Sheraton Metekhi Palace today. The memorandum will trigger the development of solar and wind energy in Georgia.

A partnership agreement will be signed by the investor and the director of Ministrys subsidiary company Georgian Energy Development Fund, Giorgi Bejuashvili.

The agreement oversees the establishment of a new company, which will conduct research and develop a project with 400 MW potential for solar energy and wind power plants across the country.

Share of Energy Development Fund in the new company will be defined with 15% and the share of Alto Apolo Energy with 85%. For the first stage of the project, a technical and economic study will be carried out. This is to define the feasibility of solar energy, the power plant, and specific sites for construction.

In addition, On December 19, a representative of Aeoulus Alto Energy and the Professor Tony Seba of Stanford University will deliver a lecture at the International School of Economics of Tbilisi State University, on the topic of alternative energy sources.