A Government meeting was held today under the chairmanship of Georgian Prime Minister Irakli Garibashvili. The Cabinet of Ministers discussed 12 agenda items.

The Government approved the results of the first auction of electric power generation capacity, in which 27 companies won. Agreements regarding the technical and economic study phase will be signed with the companies in the nearest future. Of 27 projects, ten involve solar power plants, two target wind farms, and 15 are for hydropower plants.

A total of 78 applications were submitted in the auction for the capacity of electric power generation from renewable sources announced by the Ministry of Economy.

The extremely high interest of investors in the auction was highlighted, as applications for over 900 megawatts of installed capacity were submitted toward 300 megawatts of installed capacity announced under the first auction.

The auction’s commission-consisting of representatives of the Ministry of Economy, the Finance Ministry, the Public-Private Partnership Agency, and the Georgian State Electrosystem-reviewed and studied documentation, technical and economic studies, materials, and applications submitted by interested parties.

While discussing this topic at the meeting, the very successful implementation of the scheme for supporting the generation of energy from renewable sources and its use was underlined, as is evidenced by the auction’s results. And this will ultimately create opportunities for investing over 2 billion USD in the energy sector.