Gov’t to sign contracts “gradually” with winning companies of first auction of renewable energy projects
The Ministry noted the auction results confirmed that the new scheme, supporting the production and use of renewable energy, was implemented successfully, which would ultimately create opportunities for over $2 billion in investment in Georgia’s energy sector. Photo: Kartli wind farm
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The Georgian Government will “gradually” sign the contracts with the companies that were declared winners of the first auction in projects for renewable energy infrastructure in July, the Economy Ministry said on Friday.
Among the projects presented at the Government session on Friday, two involve building wind farms, one solar power plant and seven hydropower plants, that will reach over 165 megawatts of installed capacity and will total $225 million in investments.
The Ministry noted the auction results confirmed that the new scheme, supporting the production and use of renewable energy, was implemented successfully, which would ultimately create opportunities for over $2 billion in investment in Georgia’s energy sector.
The state body said that within the scope of the new scheme, a total of 78 applications had been submitted in the auction, adding investors “have shown extremely high interest” in the call, with applications for over 900 megawatts of installed capacity submitted for the auction that had called for 300MW in the first phase.
A total of 27 companies have been announced as winners in projects that involve the building of 10 solar power plants, two wind farms and 15 hydropower plants.
Twenty-seven companies have been declared winners in projects for renewable energy infrastructure, creating opportunities for over $2 billion in investment in Georgia’s energy sector, the Government Administration announced on Monday.
Georgian Deputy Economy Minister Romeo Mikautadze on Tuesday said ensuring utilisation of renewable energy was “important” for establishing a “sustainable, safe and independent” energy sector in the country.
Romeo Mikautadze, the Deputy Economy Minister of Georgia, on Sunday said the ongoing year was seeing “record figures” in generation and exports of electricity, in an address to employees of the sector on their professional day.
Romeo Mikautadze, the Georgian First Deputy Minister of Economy and Sustainable Development, on Thursday said his office had signed 60 deals with investors worth $800 million last year that were expected to add more than two billion kWh to the local energy generation annually.
The Business Universal programme of Georgia’s export promotion agency Enterprise Georgia now includes electricity production to increase financial availability of business loans for a "maximum number" of entrepreneurs.
Georgian Deputy Economy Minister Romeo Mikautadze on Tuesday said “optimal” development of renewable energy sources was the “cornerstone” of the national security, economic and political progress of the country.
A Government meeting chaired by Prime Minister Irakli Garibashvili on Tuesday discussed the first auction of electricity production capacity initiated by the Ministry of Economy.
The Government of Georgia on Monday discussed a project initiated by the Ministry of Economy for construction of two new hydro powerplants in the western regions of Racha and Samegrelo.
Long-term safety of dams is a “huge task” for any country, including Georgia, the country’s Deputy Economy Minister Romeo Mikautadze said on Tuesday in his address to the international conference titled Dams and Hydropower: Adapting for a Changing World.
The positive trends in the Georgian economy and the priority directions of the 2024 budget were reviewed on Saturday in a meeting of the Government’s Economic Council led by Prime Minister Irakli Garibashvili.