Economy minister promotes Georgia's renewable energy sector at int'l conference

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 ministry of economy cited Davitashvili, who was speaking at the Renewable Energy Investment Conference, as saying energy security and energy independence were “two of the most important issues” internationally “due to the current geopolitical situation”, in reference to the conflict in Ukraine.

"For us, renewable energy has the greatest potential and prospect, therefore attracting investments in this area and encouraging this direction is the main priority”, the minister told event participants.

Photo: ministry of economy

“This issue is reflected in our strategic documents, including the vision of the government for 2030 [on] how to effectively utilise various sources of renewable energy in the country in order to strengthen [its] energy independence, energy security and promote continuous development of the economy", Davitashvili said.

The minister noted 68 memorandums had been signed this year alone, with over $700 million planned to be invested in the energy sector. "We have already agreed on projects that will generate an additional 1.6 billion kilowatt per hour [generation]", he said.

The three-day conference that opened today features high-level speakers, decision-makers, regulators, investors, and experts in green energy from over 30 countries. 

It brings together participants in discussions on renewable energy policies in the European Union and worldwide, and learn about the renewable energy investment climate in different countries.