Georgian gov't offers new support scheme to investors for 1,500 MW HPPs construction

11:54, 31.10.2022

Georgian Prime Minister Irakli Garbashvili on Monday announced a new support scheme for investors over 1,500 MW power plants construction within three years.

This move, according to the PM, does not include large projects such as Namakhvani, Nenskra, and Khudoni HPPs, as well as 800 MW HPPs.

The country will invest about $ 2.2 “while we expect at least $ 3 billion of investment in the energy sector,” the PM said, noting that Russia’s war in Ukraine unveiled the energy security and energy independence challenges facing the countries and states.

In this context, the PM stressed “Georgia has quite large resources, especially hydro resources. Therefore, this resource needs to be utilized as wisely as possible. This is our top priority.”

By - Marika Kartozia

Economics

500 MW HPPs construction

Georgian gov't