Gov’t meeting discusses renewable energy auction

It also said the most recent meeting had already approved an agreement involving 11 projects with a total capacity of 161 megawatts, 661.9 million kWh total output and $218 million investment volume. Photo: Government Administration

Agenda.ge, 26 Sep 2023 - 17:19, Tbilisi,Georgia

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 Administration said the initiative involved approval of technical and economic research agreements with winning companies in six projects totalling 44 MW in capacity, 71 million kWh output and $26.9 million investment volume.

It said the new scheme for supporting energy production and use from renewable sources involved an auction for 300 MW of capacity and attracted interest from the private sector, with 78 applications for 943 MW of installed capacity submitted.

The construction works of 15 hydroelectric, two wind and 10 solar power plants in the country will be carried out by a total of 27 winning companies.

The Administration also said the power generation facilities, once fully operational, would produce 1.1407 billion kWh of energy annually for the country, with a total investment exceeding $400 million.

It also said the most recent meeting had already approved an agreement involving 11 projects with a total capacity of 161 megawatts, 661.9 million kWh total output and $218 million investment volume.