Gov't approves $200 million energy projects in bid for energy independence
The new projects aim to generate 150 MW in installed capacity, of which 110 MW will be generated by wind infrastructure, 20 MW by solar, and the rest by hydropower. Photo: Energy Development Fund.
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New solar, wind and hydropower projects with a total investment volume of $200 million will be implemented in Georgia to support the development of renewable energy and ensure the country's energy independence, the Government revealed on Tuesday.
The announcement said the Government had approved "several important projects in the field of renewable energy production” at today's meeting, aiming to generate 150 MW in installed capacity, of which 110 MW will be generated by wind infrastructure, 20 MW by solar, and the rest by hydropower.
Deputy Economy Minister Romeo Mikautadze said the projects would be implemented in different locations across the country.
"These locations are Gori, Ksani and Aspindza. Local as well as foreign investments will be implemented [...] [The projects will help to] reduce our dependence on neighbouring countries, and are a step forward on the path to energy independence", Mikautadze said.
Recently announced large-scale infrastructure projects and public employment programme, as well as ongoing energy projects, were discussed in a meeting of the Georgian Government’s Economic Council, led by Prime Minister Irakli Garibashvili on Saturday.
The Nordic Environment Finance Corporation, an international finance institution working on green transition, has allocated €6.5 million to Georgia in support of energy efficiency in the country’s mountainous regions, the Georgian Finance Ministry announced on Wednesday.
The German Government will allocate €1.3 million through the German Development Bank to support the introduction of the green hydrogen technology and develop relevant conducive legal framework in Georgia, the Embassy of Germany announced on Tuesday.
An agreement on a €2 million programme on developing sustainable energy in Georgia was signed on Thursday between Levan Davitashvili, the Georgian Economy Minister, and Jeppe Kofod, the Danish Foreign Minister.
Georgian Finance Minister Lasha Khutsishvili spoke about his country’s potential in generating green energy at the European Bank for Reconstruction and Development's Annual Meeting and Business Forum in Morocco, the Ministry said.
About 200 officials from over 70 companies operating in the oil and gas industry are gathered in the Georgian capital of Tbilisi to attend the 54th Meeting of the Continental Europe Energy Council between Friday and Saturday.
A fresh project funded by the European Union will aim to create an energy regulatory environment for digitalisation in Georgia following its launch by the Georgian National Energy and Water Regulatory Commission, the body said on Thursday.
Georgia’s Deputy Economy Minister Romeo Mikautadze and Claire Mason, the acting Mission Director of the United States Agency for International Development have signed a memorandum of understanding on cooperation in the energy sector, the Ministry of Economy announced on Friday.
An agreement between Georgian and Armenian authorities on supply of electricity in emergency situations was signed in a meeting between Georgian Deputy Minister of Economy Romeo Mikautadze and Armenian Deputy Energy Minister Hakob Vardanyan in Tbilisi on Thursday, the Georgian Economy Ministry said.
Georgian prime minister Irakli Garibashvili on Tuesday announced that the government would present the vision of energy development to society and business “in just a few weeks”, no later than November and would begin its implementation in the “near future”.
The energy sector is not only a field that contributes to the economy but it is the most important direction, which, along with economic benefits, is the solid foundation of Georgia’s energy independence, security and strength, Romeo Mikautadze, the deputy economy minister said on Saturday at the Akhalkalaki hydropower plant cascade opening.