Georgia, Iceland sign geothermal energy development memorandum
Georgia and Iceland have signed a memorandum for development of geothermal energy in Reykjavík. Photo: Ministry of Economy
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Georgia and Iceland have signed a memorandum for development of geothermal energy in Reykjavík, the Georgian Minister of Economy and Sustainable Development said on Friday.
The Ministry said the memorandum aimed at cooperation in energy efficiency as well as renewable and geothermal energy development, with the sides pledging to encourage harmonisation of Georgia’s energy legislation with the European Union and increase energy efficiency in public buildings.
The main aspect of the memorandum aims to promote communication and cooperation between government institutions of the country and establish connections between professional organisations and chambers of commerce.
The Georgian delegation also discussed development of geothermal energy and priorities of cooperation with Gudlaugur Thór Thórdarson, the Icelandic Minister of the Environment, Energy and Climate.
The visiting delegation also included representatives of the Georgian Oil and Gas Corporation and Georgian Energy Development Fund, for discussions of cooperation with business sector and delegations from foreign countries.
During the visit, the Georgian side also attended the thematic discussion on geothermal energy experience in Iceland along with 800 delegates from 50 countries.
The Committee for European Integration of the Georgian Parliament on Tuesday supported the Government’s energy policy, the legislative body said.
Georgian Economy Minister Levan Davitashvili on Monday said today’s Government meeting had approved a transitional model for the domestic electricity market as part of the energy exchange reform, which would allow for trading of electricity in day-ahead and daily markets.
Georgian Economy Minister Levan Davitashvili on Thursday said his country’s relations with Turkey were “very intense” and covered “many directions”, in comments made after the signing of a memorandum of cooperation in energy.
The Georgian capital city of Tbilisi hosted the seventh Ministerial Meeting on the Development and Transmission of Green Energy between the governments Azerbaijan, Bulgaria, Georgia, Hungary and Romania this week.