Economy Ministry announces auction on production, use of renewables
The mechanism has been drawn up for companies that are implementing energy projects in Georgia and need additional incentives to develop further. Photo: Ministry of Economy
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Georgia’s Ministry of Economy and Sustainable Development on Monday announced an auction for production and utilisation of renewable energy sources that has been described as an “important step” for ensuring energy independence of the country by Deputy Minister Romeo Mikautadze.
Initiated by Prime Minister Irakli Garibashvili, the initiative involves use of local resources and is aimed at attracting investments, Mikautadze also said, noting the auction would run in a “competitive, market-based environment” and ensure “fair prices for both the state and the business”.
The mechanism has been drawn up for companies that are implementing energy projects in Georgia and need additional incentives to develop further.
The auction involves projects for hydroelectric power stations with 150 MW of power, wind power plants of 70 MW, solar power plants with 70 MW and facilities operating on other renewable energy sources with the power of 10 MW.
Romeo Mikautadze, the Deputy Economy Minister of Georgia, discussed procedures of auctions for the state scheme for renewable energy support in a meeting that involved investors, companies and business associations of the sector, the Ministry of Economy said on Thursday.
Georgian Deputy Economy Minister Romeo Mikautadze on Tuesday highlighted energy security as a "necessary prerequisite" for ensuring growth and development, in remarks at the Energy Policy Forum organised by the United States Agency for International Development.
Georgian Prime Minister Irakli Garibashvili on Wednesday participated in the Mastering New Energy Economics roundtable discussion held within the framework of the World Economic Forum in Davos.
Georgia’s energy sector is in “an active phase” of development and the country’s goal is to “effectively” use the “huge” unused potential of renewable energy through hydro, wind, solar, and other energy-sufficient directions, Romeo Mikautadze, Georgia’s Deputy Economy Minister said on Saturday at the 13th session of the Assembly of the International Renewable Energy Agency in Abu Dhabi.
The government of Georgia is launching a new support scheme for the companies implementing energy projects in Georgia and need additional incentives to develop further, the ministry of economy announced on Tuesday.
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.