International consultancy company helps Georgia create energy development strategy
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The international consultancy company McKinsey&Company is helping Georgia create an energy development strategy, Georgia’s Ministry of Economy has announced.
Georgia’s Economy Minister Dimitry Kumsishvili met with the representatives of the McKinsey&Company yesterday in Tbilisi and discussed the main directions of Georgia’s energy sector development strategy.
Significant components of the strategy, including internal growth and the rational use of energy resources, the facilitation of the sector in order to establish the country as a regional hub for the electricity trade and the improvement of the long-term electricity export-import balance were discussed during the meeting.
Georgian delegation met representatives from the McKinsey&Company yesterday. Photo from Georgia's Ministry of Economy.
The dialogue also focused on issues such as ensuring the long-term security of the electric power system, challenges for the formation and development of power markets, development of renewable energy sources, etc.
To note, Georgia also strives to become a regional hub for electricity trade. Large European energy companies Nord Pool and Bluberries are helping Georgia to achieve this goal by preparing recommendations for the country.
Georgia’s Ministry of Economy has already signed a Memorandum of Cooperation (MoC) with the European companies this week.
Large European energy companies Nord Pool and Bluberries will prepare recommendations for Georgia to help the country become a regional hub for electricity trade.
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.
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.
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.
A new 25 megawatt capacity substation has opened in Georgia’s village of Saguramo in Mtskheta municipality. Georgian Water and Power has invested over 5 million GEL in building the 25 megawatt capacity substation in Saguramo.
A number of public buildings in Georgia will soon benefit from more energy-efficient infrastructure thanks to a new grant agreement that was signed today between the Nordic Environment Finance Corporation (NEFCO) and Georgia’s Ministry of Finance.
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German KfW and French AFD sign have signed €74 million in loan agreements to support energy sector reform in Georgia, announces the Delegation of the European Union to Georgia.
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The German Development Bank (KfW) will help the government of Georgia to implement energy reforms, announces the Ministry of Economy of Georgia.
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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.