ADB offers $100 mln to strengthen Georgia's electricity transmission sector
Under its Electricity Transmission Sector Reforms Programme, ADB will support institutional reforms in the Georgian State Electrosystem (GSE). Photo: Nino Alavidze/Agenda.ge.
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The Asian Development Bank (ADB) has approved a $100 million policy-based loan to strengthen Georgia's electricity transmission sector by improving the operational structure, corporate governance, and financial management of the country’s electricity transmission company and its subsidiary, announces the ADB.
Under its Electricity Transmission Sector Reforms Programme, ADB will support institutional reforms in the Georgian State Electrosystem (GSE) helping to transform it into a modern, operationally efficient and financially sustainable corporate entity.
ADB says that GSE and its subsidiary EnergoTrans currently rely heavily on government funding and external borrowing and have accumulated substantial debt to support upgrades and the expansion of transmission infrastructure.
“This programme will help improve the financial sustainability and performance of Georgia’s energy sector and free up fiscal space to allow the government to better allocate resources to critical areas such as the Covid-19 economic recovery,” said ADB Principal Energy Specialist Adnan Tareen.
The Georgian government has identified business sectors in the country which will benefit from a state subsidy which will cover 50% of the increased electricity fees that went into effect on January 1.
Georgia and the European Union are discussing the possibility of laying a high voltage transmission line along Georgia's Black Sea seabed to connect Georgia and EU energy systems, announces Georgian Economy Minister Natia Turnava.
French state-owned company EDF has presented to the Georgian State Electrosystem (GSE) a hydro power ‘roadmap’ that analyses the potential of hydroelectricity power from 2020 to 2035, announces the Embassy of France to Georgia.
Georgian National Energy and Water Supply Regulatory Commission has fined water and electricity supplier companies in the country for 'inaccurate accruals' set to the subscribers. Georgian Water and Power, one of the leading water supplier companies in the South Caucasus, was fined 75,000 GEL (about $24,311/€20,705).
Businesses in Georgia will benefit from variable prices starting January 1, 2022, as a result of the launch of the Georgian energy stock market, news agency Interpressnews (IPN) reports. The energy stock market will start trading at hourly rates on January 1, head of the market, Irina Milorava, states.
The Asian Development Bank (ADB) has approved a €101 million loan to build and upgrade infrastructure and enhance services in urban centres to boost regional development and economic opportunities in Georgia.
Electricity production in Georgia decreased by 5.9% in 2020 compared to the previous year, and totalled 11,159.8 million kWh of electricity, a survey conducted by the National Statistics Office of Georgia (Geostat) read.