Baku, Azerbaijan, August 10
By Tamilla Mammadova – Trend:
Energy remains one of the most growing and investment-friendly sectors of the Georgian economy, said the Deputy Minister of Economy and Sustainable Development of Georgia, David Tvalabeishvili, Trend reports referring to the Ministry of Economy and Sustainable Development of Georgia.
According to him, in 2018 - 2019, more than $201 million was invested in the construction of energy facilities in Georgia. Tvalabeishvili said that 28 memorandums of understanding have already been signed on the construction of energy facilities in Georgia.
According to the deputy minister, in April of this year, negotiations were successfully completed on the construction of the cascade of the Namahvan hydroelectric power station in Lechkhumi in Georgia with planned investments of $750 million.
Tvalabeishvili stated that such projects are of strategic importance for Georgia’s energy security and its continuous energy supply.
“There is great interest from international and local investors in the construction of energy facilities in Georgia. Electricity consumption in the country increases by an average of 5 percent annually as a result of growing commercial and domestic demand. Investors are also interested in continued liberalization of the electricity market,” Tvalabeishvili said.
According to the deputy minister, the country needs new facilities for energy production that will ensure uninterrupted energy supply to Georgia and further economic development of the country.
The design capacity of 11 hydropower plants operating in 2018 - 2019 is 98 MW, and over the next two years another 16 small and medium-sized hydropower plants with a design capacity of 100 MW and an estimated investment of $180 million will be added to the country's energy sector.
Tvalabeishvili emphasized the importance of the Namahvan hydroelectric power station, which will become one of the largest energy projects along with the Nenskra Hydro Power Plant since the independence of Georgia. Its installed capacity will be 433 MW, and after completion of construction, electricity generation in Georgia will increase by about 15 percent.
The deputy minister focused on another project that is important for the country's energy security - the installed thermal Gardabani power plant with a capacity of 230 MW, which, after commissioning in 2020, will become one of the largest electricity producers in the country.
