From September 1, individuals interested in the energy sector who meet the preliminarily determined technical-economic requirements would benefit from the support scheme and get the advantageous fixed rate for the implementation and development of the Electric Power Plant projects without an auction, through direct negotiations with the government.

According to the Ministry of Economy and Sustainable Development, fixed rates were determined per the government’s decree, which the interested person will benefit from for 15 years, based on the price difference agreement with the state.

The fixed median rates were determined as follows: hydroelectric plants (on flow) – 6.5 USD cents; Wind power plants – 6.0 USD cents; Solar power plants – 5.6 USD cents,” the Ministry of Economy said.

Head of the Energy Policy and Investment Projects Department, Jubo Turashvili explained that the second capacity auction showed high interest in the energy sector.

“The initiative is yet another step forward in support of the energy sector and ensures the interest of investors to seek to attract both Georgian and foreign direct investments,” he said.

The Ministry of Economy will shortly announce the direct selection of beneficiaries of the support scheme for the production and use of electricity from renewable sources in the categories of hydroelectric, wind, and solar power stations.