Shares of Georgia’s wind farm to be sold at Georgian Stock Exchange

Shares of Georgia’s wind power plant will be sold on the Georgian Stock Exchange. Citizens of the country will have the chance to buy them and become shareholders.

This is a form of privatisation which I think will importantly encourage, first of all, the development of the Georgian Stock Exchange,” said Georgia’s Prime Minister Giorgi Kvirikashvili after announcing this initiative at today’s Government Meeting.

On the other hand it is also very important for our citizens to have a sense of involvement in those important projects that we have been implementing. Also, local investors will have the chance to purchase the project shares since the project will be prepared for a public offering at the local stock exchange,” Kvirikashvili added.

Wind is plentiful in Georgia and now the country is using this valuable resource to power the country, particularly in winter when demand is high.

Georgia’s first wind farm, a 20MW Kartli Wind Power Plant, was officially opened in October 2016 in the Gori municipality in central Georgia’s Shida Kartli region.

About $34 million was spent on building the new wind farm in Gori.

Following the opening of the Kartli Wind Power Plant, the state-owned Georgian Energy Development Fund (GEDF) is searching for an investor to develop Georgia’s second wind power plant, a 150MW wind power plant in Zestaponi, in Georgia’s western region of Imereti.