“157 companies have had a billion GEL in fines conditionally waived. Some declined to take advantage of the offer, leading to the discontinuation of 535 MW projects, while the implementation of 1,560 MW projects will proceed,” stated Georgian Prime Minister Irakli Kobakhidze during today’s government session.

As Kobakhidze emphasised, energy remains a sector of particular importance.

“As you are aware, a few months ago we decided to conditionally waive fines and penalties for energy companies, and this process has now been completed. In total, 157 companies benefited from the conditional forgiveness of fines amounting to a billion GEL. Some companies chose not to utilise this opportunity, resulting in the discontinuation of 535 MW projects, but the development of 1,560 MW projects will continue. Naturally, this decision by the Georgian government will serve as a fresh impetus for the growth of our country’s energy sector,” Irakli Kobakhidze stated.