Georgia strives to become regional hub for electricity trade
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Large European energy companies Nord Pool and Bluberries will prepare recommendations for Georgia to help the country become a regional hub for electricity trade.
Georgia’s Economy Minister Dimitry Kumsishvili has met the representatives of both energy companies in Georgia’s capital of Tbilisi today. As a result of this meeting the sides agreed to sign a Memorandum of Cooperation (MoC).
Within the MoC Nord Pool and Bluberries will have to prepare recommendations for Georgia during a one year period of time.
The recommendations will provide guidelines on how to create a competitive electricity market in Georgia and how to become the regional hub for electricity trade.
Georgia’s Economy Minister also talked about electricity market reform projects at the meeting.
Turkish energy company Calik Energy will build a new wind power plant in Georgia’s Kartli region.
The United States Agency for International Development (USAID) is launching a new three-year energy program in Georgia to support the development of energy market in the country. The $7.5 million energy program aims to contribute to the development of commercial electricity opportunities in Georgia.
Georgia’s first wind farm, a 20MW Kartli Wind Power Plant, has generated 103,923,000 kWh of power since it opened in 2016 in central Georgia’s Shida Kartli region.
Georgia is striving to fortify energy security in the country and improve its economy by building the largest hydro power plant in the recent history of independent Georgia - the Nenskra Hydro-Electric Power Plant (HPP).
The international consultancy company McKinsey&Company is helping Georgia create an energy development strategy, Georgia’s Ministry of Economy has announced.
High-officials have gathered in Georgia’s capital of Tbilisi to discuss the upcoming natural gas reform in Georgia that will contribute to the expansion of the gas market, attract investments and provide for increased security for the country’s gas supply.
The Government of Georgia, a German government-owned development bank KFW and the French Development Agency (AFD) are signing a declaration on launching reforms for developing the energy market in Georgia and improve energy efficiency in the country.
Georgia is increasing the export of electricity to Turkey, announces Georgia’s Ministry of Economy. As of May 9, 2018 export of electricity increased by 61.4 percent compared to the same period of 2016, says Georgia’s Ministry of Economy.
A new Combined Cycle Thermal Power Plant will be built in Georgia to increase the country’s power generation and move Georgia one step closer towards energy independence.
Energy company Energo-Pro Georgia is planning to invest 5,234,000 GEL in restoring high voltage electricity lines in Georgia.
Electricity consumption in Georgia was up 6.9 per cent in 2017 year-on-year at 11.20 billion kWh of electricity.
Russia will supply Georgia’s occupied region of Abkhazia with electricity from today due to the critical situation at the Enguri HPP.
Georgia has begun exporting electricity to Turkey and Russia, announces the Electricity System Commercial Operator (ESCO) of Georgia.
A new Electricity Market Model Concept will be launched in Georgia on September 1, Deputy Economy Minister Romeo Mikautadze announced on Tuesday at a sitting of the Parliamentary Committee on Sectoral Economics and Economic Policy.