Georgian Economy Minister emphasises importance of energy policy for national development

Georgian Economy Minister Levan Davitashvili on Wednesday addressed the economic forum Georgian Energy Policy, Energy Security and Renewable Energy by highlighting the country's energy sector trends, ongoing and planned reforms, and major infrastructure projects.

During his speech, Davitashvili emphasised the role of the sector in the country’s development, stating that energy policy served as the “foundation” for both the nation's economic policy and its security.

He underscored the significance of enhancing energy security, increasing the share of local electricity in the energy balance, and boosting exports.

In our election programme, we shared specific targets with the public. One of our key goals is to double energy generation by 2030, which will require significant investments in the energy sector. Georgia has abundant opportunities for generating electricity from renewable sources, including traditional hydro resources as well as wind and solar energy. Our aim is to fully utilise these resources, and we have an ambitious plan to achieve an installed capacity of up to 10 gigawatts by 2030”, Davitashvili said.

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The Minister emphasised the need to encourage private investments in the energy sector and underscored the importance of dialogue between the private and public sectors in the industry.

Our energy policy encourages private investments, recognising the unique nature of the energy sector and the importance of both the state and private sector. Unlike many other sectors, the dialogue between the private and public sectors is crucial in the energy industry”, he said.

Davitashvili also discussed the significance of power transmission infrastructure and collaborative efforts with neighbouring countries’ energy systems. He highlighted a “global energy project” that will connect Georgia’s energy system to the European Union through the Black Sea submarine cable project.