Georgia, USAID sign Memorandum of Understanding on energy sector cooperation
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. Photo: Ministry of Economy
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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.
The Memorandum aims to help ensure that Georgia's households and businesses can count on a steady supply of electricity “that is fairly priced and not subject to unfair pressures from external malign actors”, the USAID said.
"The Memorandum paves the way for close cooperation meeting our joint goals of securing reliable, affordable, diversified, and clean supplies of energy. Together we will increase the resilience of the energy sector to withstand the increasing threat of cyberattacks.
“We will facilitate investment in new domestic renewable energy generation that contributes toward meeting climate change goals set by both Georgia and the US. We will develop Georgia's energy markets in line with the Energy Community Treaty and Accession Protocol--and supporting Georgia's EU membership ambitions' ', the USAID stated.
The memorandum includes four strategic objectives: strengthening Georgia's energy security in long-term policy development; promotion of investments in the direction of utilisation of renewable energies; increasing Georgia's institutional capacity for sustainable management of the energy market and increasing the sustainability of the energy sector through strengthening cyber security.
Georgian Energy Exchange will become fully operational in September, aiming to ensure transparent and competitive markets and provide accurate price signals to existing and potential market participants, Economy Minister Levan Davitashvili announced on Wednesday.
Georgia will have new, fiscally sustainable mechanisms to improve the support framework for energy projects, which will help to ensure energy independence, Economy Minister Levan Davitashvili said on Friday at a plenary session of the Georgian Parliament.
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.
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.
The Georgian Energy Exchange will probably not be launched in September amid "increased risks in the region", Economy Minister Levan Davitashvili said at a press briefing on Monday.
Electricity production and the energy sector play an important role in the development of the Georgian economy, all branches of the economy are directly related to the success of the energy sector, Levan Davitashvili, Georgian Economy Minister said on Saturday at a dedicated event celebrating the Energy Workers Day.
2022 has been a “record year”, the first year without the waste of falling water from hydroelectric power plants and with “every” cubic metre used to generate electricity, Romeo Mikautadze, Georgia’s Deputy Economy Minister said on Saturday at a dedicated event celebrating the Energy Workers Day.
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”.
Georgian economy minister Levan Davitashvili on Wednesday highlighted the potential of the renewable energy sector of the country’s economy at an international conference hosted in Tbilisi, where he said attracting investments in the area was a “main priority” for the government.
The United States Agency for International Development is launching a five-year programme designed to create jobs and improve livelihoods of people living in over 90 communities along the administrative line separating the Russian-occupied regions from the rest of the country.
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.
The United States Agency for International Development has allocated a grant of $220,000 for supporting financial market development in Georgia, the national bank of Georgia announced on Wednesday.
Georgian Prime Minister Irakli Garibashvili on Tuesday hosted Philippe Guitard, the Senior Executive Vice President of Central and Eastern Europe from French Veolia Group, a leading company operating in the energy sector and providing services to meet environmental challenges.